Levy of gst for a trader of goods on rental income
This query is : Resolved
17 August 2019
Hi friends,
One of my friend is a trader of goods. He is a registered dealer and paying tax on supply of those goods. In addition to that he also had a comercial property on which he is earning rental income..
Turnover from Trading is Rs. 20 Crores
Rental Income is Rs.96000/-
My doubt is whether gst is leviable on rental income? Since rental income is not earned in the furtherance of business?
One of my friend is a trader of goods. He is a registered dealer and paying tax on supply of those goods. In addition to that he also had a comercial property on which he is earning rental income..
Turnover from Trading is Rs. 20 Crores
Rental Income is Rs.96000/-
My doubt is whether gst is leviable on rental income? Since rental income is not earned in the furtherance of business?
17 August 2019
Rental income from commercial property comes under GST @18% so it is required to be shown under GST returns.
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