har on received rent

Others 186 views 7 replies
we get approx 15 lakhs rent from commercial property.
should I covered in gst??
Replies (7)

If aggregate receipts including the rental income is below 20 lakhs...............No

It is covered in GST but an exemption from registration is allowed upto Rs.2000000/-
ok
thnx sir
.It is an call that should be taken by you as your turnover is below 20 lac it is not required but if that company or trader or any individual doing business he has to pay under reverse charge. So speak to them if they want to claim credit or not.
Else it would be considered as inclusive and you would get only 82% of the rent where 18 % will be charged under reverse charge.

Dear Sharmaji,

I got the only rental income  from commercial property arround 15 lakhs, but turnover will be higher than 20 lakhs. Please clarify that GST should affect the individuals who has turnover is higher that 20 lakhs?? 

You are required to register under GST as your turnover is above Rs.2000000/-

Yes , As mentioned by Rashmi Ji once your T.O is more than 20 lac you have to get registered but in case if it is below it is not mandatory for you to get registered but the tax will be lived under reverse charge as I explained in my earlier comment


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