My total income exceeding 20 lakh FY 22 23
MY INCOME INCLUDING RENT INCOME, INTEREST RECEIVED FROM UNSECURED LOAN, DIVINDED INCOME, SAVING INTEREST CAN I LAIBLE AS GST REGISTRATION
nirmal paliwal (ipcc) (78 Points)
17 July 2023
RAJA P M
("Do the Right Thing...!!!")
(127513 Points)
Replied 18 July 2023
Musrath Shaik
(175 Points)
Replied 19 July 2023
Goods and Services Tax (GST) is a consumption-based tax levied on the supply of goods and services in India. GST registration is mandatory for certain businesses based on their turnover, and it is essential to understand the criteria for registration.
The GST registration threshold for regular businesses was an annual aggregate turnover of ₹20 lakh (₹10 lakh for special category states). However, this threshold can be different for certain categories of businesses, like for certain states, specific types of goods or services, etc. Please verify the current GST threshold and rules with the official GST portal or consult a tax professional to get the most up-to-date information.
In your case, it seems that your total income exceeds ₹20 lakh, and it includes rental income, interest received from an unsecured loan, divided income, and savings interest. It's important to note that GST is generally not levied on personal income, including income from rentals, interest, or dividends.
For further more detailed information on this topic visit: Legal Procedure of Filing an Appeal under GST Act
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RAJA P M
("Do the Right Thing...!!!")
(127513 Points)
Replied 19 July 2023
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