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Rental income of composition dealer

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Bhavana Pretty

33 Points Posted on 29 November 2020

if a composite dealer having business and rental income both then how much percentage he has to pay tax in get return
how the amount has to be shown in get portal ??

Replies (8)

Quick Summary

This discussion clarifies how composite dealers should report rental income from commercial properties. It explains that such income, alongside business income, must be declared in Table 3.1 of FORM CMP-08, with a 1% GST rate applied if the dealer is primarily a trader. Crucially, if the value of services (including rental income) exceeds 10% of the turnover or £500,000 (whichever is higher), the dealer must opt out of the composition scheme and register for the regular GST scheme.

Shivam RC

Student

23693 Points Posted on 29 November 2020

The rental income is from Commercial Property or Residential Property ???

Sejal Golecha

49 Points Posted on 29 November 2020

If commercial?

Bhavana Pretty

33 Points Posted on 29 November 2020

It's commercial property sir how to show it ??

Shivam RC

Student

23693 Points Posted on 29 November 2020

The rental income received from commercial property along with the business income needs to be reported in Table number 3.1 "Outward Supplies ( including exempt supplies )" column of FORM CMP-08 Statement-cum-Challan and the GST Rate applicable on the rental income would be 1% ( assuming that you are a Trader ).

Note : Composition Scheme Dealers are allowed to provide Supply of Services, which shall not exceed 10% of their Turnover from goods or Rs. 5,00,000, whichever is "HIGHER."