Rental income -GST regime

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1244 Points Joined June 2017
Gross rental income exceeds 20lacs (residential purpose-15L & commercial purpose-10L).
So what will be my tax liability under GST?Also, do i have to register under GST?
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On 25 July 2017 at 19:44 Report
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Properitro
34 Points Joined January 2010
Rental income from residential property is exempt from GST under mega exemption list and rental income from commercial property is taxable . However to derive the threshold limit of 20 lacs, aggregate turnover needs to be considered. Definition of aggregate turnover includes exempt supplies as well.

So registration is required in your case as value of taxable supply + value of exempt supply are exceeding 20 lacs.
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On 25 July 2017 at 19:58
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Taxation Consultant
1823 Points Joined October 2010
yes, you need to get registered. coz aggregate turnover includes exempted supply too
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On 25 July 2017 at 20:17
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1244 Points Joined June 2017
than gst tax paid on taxable income or gross income?
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On 25 July 2017 at 20:28
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jr accountant
708 Points Joined April 2012
taxable income
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On 25 July 2017 at 23:58
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1244 Points Joined June 2017
sir, but in gst retun i have shwon only taxable income as well as exampted income . which income i have shwon in gst retrun.
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On 26 July 2017 at 09:12
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jr accountant
708 Points Joined April 2012
both income
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On 26 July 2017 at 09:39
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1244 Points Joined June 2017
but gst paid on both income or what
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On 26 July 2017 at 09:50
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jr accountant
708 Points Joined April 2012
gst only paid on taxable supply not income
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On 26 July 2017 at 09:58
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Tax Consultant
45 Points Joined August 2008
I would like to elaborate this point little bit. For example is owner property is residential property and the same is given on a rent. And tenant is using this property for commercial purposes then whether GST is payable?
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On 26 July 2017 at 10:23
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CA Practice
3577 Points Joined September 2012
You are liable for GST registration and you will have to pay GST on 10 L @ 18 %
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On 26 July 2017 at 11:30
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Tax Consultant
45 Points Joined August 2008
I would like to elaborate this point little bit. For example is owner property is residential property and the same is given on a rent. And tenant is using this property for commercial purposes then whether GST is payable?
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On 26 July 2017 at 13:14
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Tax Consultant
45 Points Joined August 2008
Sorry by mistake
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On 26 July 2017 at 13:15


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