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composition dealer can have rental income?

02 October 2018

1)I am composition dealer having retail medical shop, Also I have a commercial property which I want to give on rent @ 35000 per month. what will be the legal aspect
2)is there any way by which I can transfer the rental income to my wife without transfer of property

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177852 Points)
Replied 02 October 2018

1. You will have to opt out of composition scheme.

2. No ..

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Sejal Golecha (49 Points)
Replied 07 December 2018

composition dealer can provide services up-to 5 lack, as discussed in 28 gst council meeting, any notification regarding this

Madhvi kashyapa (student) (285 Points)
Replied 24 April 2019

It is amendment in GST act, that from 01.02.2019, composition dealer can supply services upto 10% of the aggregate supplies, or upto Rs.5 lakhs maximum.

From 01.04.2019 composition dealers are allowed to supply services or mixed supply of services with goods at 6% GST, but upto maximum 50 lakhs limit.