I have a doubt that i gave my property on rent of which I receive 45 k every month but from now i have to collect rent amount gst18 and i do trading also of 3 cr on this Pan card My question isDo i need to charge gst as i dont receive not more then 20 lacks as rent incomeAnd 2nd question In gst 3 b is paid the rent gst figure but the tenant's GST no is still pending for verification So the bal will be in my gst a/c
yes you have to charge and collect gst on rent since your aggregate turnover exceeds twenty lakhs.If your tenant is gst registered he can avail ITC.If not you have to pay gst on rcm basis.
CAclubindia
