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 ??
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Rental income of composition dealer
Replies (8)
The rental income is from Commercial Property or Residential Property ???
If commercial?
It's commercial property sir how to show it ??
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."
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."
If it exceeds more than 500000 then what is the slab rate to pay tax sir ??
What is your Aggregate Turnover from Trading Business ???
It's 4500000
Then you cannot supply the services more then 5 lac .
you need to opt out of composition scheme & opt for reqular scheme.
you need to opt out of composition scheme & opt for reqular scheme.
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