I am having cloth business my sale is below 10 Lacs Rs. However i obtained gst registration under composition scheme and paying tax to the government properly. My concern is i am also having a property which i provided for commercial purpose to my tenant, whether GST is payable on that Rent. Rent recieved by me is RS 20000/p.m .
13 May 2018
The aggregate turnover as per GST is the aggregate of turnover of all goods and services provided under a common PAN. In this case, rental of property is a service and cloth business is trading of goods. GST is applicable on trading as well as renting of property. Moreover, you cannot opt for composition scheme since you are providing a service (renting of immovable property).
CAclubindia
