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liability under gst
A partnership firm is registered under gst and paying tax on sale of goods.One of the partner say Mr.A is the owner of another commercial property and receiving rent less than Rs.20 lakh p.a.But total of rent received and sale turnover of partnership firm exceeds Rs.40 lakh.As Mr.A is the partner of aforesaid registered firm,shall the regd.partnership firm pay gst onaccount of rent received by Mr.A from commercial property along with gst collected on sale of goods?
Replies (4)
GST is PAN based & Aggregate turnover is to be computed on PAN based.
Hence , the partner rental income cannot be add to compute Firm's turnover.
means the rental income reced by partner cannot add in firm
Hence , the partner rental income cannot be add to compute Firm's turnover.
means the rental income reced by partner cannot add in firm
you mean to say that gst is not payable by the partner on rental income as it is less than Rs.20 lakh.
yes.........
Thank you.
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