Is GST applicable on Rent received if the registered business is exclusively of Trade on GST?
Jitender Singh Rawat (Advocate) (78 Points)
14 July 2017I have one of my client in Uttarakhand whose turnover is more than Rs.10 Lakh hence now registered under GST as a regular dealer. Apart from business income he owns a commercial shop from which he receives an annual rent of Rs.72000/.
Now my questions are as follows:
1. Can he opt a composition scheme with having both business and rent income?
2. Is he liable for charging any Gst on the rent received?
3.If the rent is paid by a registered dealer who is a trader, Is he liable to pay tax on reverse charge mechanism on such rent paid?
4.What is a tax quantum of rent on commercial building or shop in Uttarakhand?
5. Is it 20 lakh or 10 lakh for the services?
Thanks