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Anil Rawat (Manager Accounts & Taxation)     01 March 2021

Registration Limit under GST

A person having a rental income of Rs 18 Lakhs and also having turnover of Rs 16 Lakhs under the name of a proprietary business during the financial year, whether he/she is liable to be registered under GST Act? Or whether both the business segment will be considered separate and the limit will be considered separately?  



 11 Replies

Sourav

Sourav (Student)     01 March 2021

Not required for gst registration as it is lower than 40 lakhs rupees
Anil Rawat

Anil Rawat (Manager Accounts & Taxation)     01 March 2021

Saurabh 40 Lakhs limit applicable for goods only, please check.

1 Like
CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     02 March 2021

You need to get yourself registered
1 Like
hema

hema (cto)     02 March 2021

If turnover is 20 lakhs for service and if you are liable to pay under RCM, Compulsory registration is req
1 Like
Anil Rawat

Anil Rawat (Manager Accounts & Taxation)     02 March 2021

Yes, I also have the same view but I have met a CA yesterday, his point of view is that turnover for supplier should be considered separately for renting income as well as proprietary business turnover.

 

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     02 March 2021

Cannot be separate if under same pan

1 Like
Sourav

Sourav (Student)     02 March 2021

Registration is based on PAN India basis
Spurto Consultancy Services

Spurto Consultancy Services (Consultant)     02 March 2021

Turnover should be considered PAN India basis and will include both rental income and business income. 

1 Like
CA. Aditya Goel

CA. Aditya Goel (Chartered Accountant)     04 March 2021

1. For GST registration you need to check aggregate turnover of the assesse and limit is 20 lakhs for Services and 40 lakhs for goods only subject to certain states

2. aggregate turnover - income from all the business/activities carried out under the same PAN will be added subject to some conditions and exemptions like salary income

3. in above case both the incomes (rental + business) will be added to check the limit

4 .rental income from residential property is exempt from GST but still be added in aggregate turnover.

hope this helps.

call me for any query or consultancy @ Nine 8 7 3 3 7 7 7 0 2

Regards

CA. Aditya Goel

Proprietor,

Aditya Goel & Co, Chartered Accountants

1 Like
Anil Rawat

Anil Rawat (Manager Accounts & Taxation)     04 March 2021

Thank you so much sir, it is very helpful

CA. Aditya Goel

CA. Aditya Goel (Chartered Accountant)     04 March 2021

lets connect over a call whenever you are available (have already shared my mobile no. in my previous post).


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