12 March 2020
A person gst composite scheme registered trading of medicines. 1. Sales turnover April to December,2019 Rs.21,00,000/- tax Rs. 21,000/- paid. 2. Same person income from rent for shop April to December,2019 Rs.36,000/- received. Question: Income from rents gst applicable and which rate of tax applicable.
13 March 2020
Dear Frd ,as ur a compostion dealer rent services not cover in it but However wef from 1st april 2019, you can opt to pay tax at 6% as your aggregate turnover is less than 50 lakhs vide notification 2/2019 central tax rate dt 7-3-2019
CAclubindia
