i m a composition dealer ...
i also get rs 10000 only per month from a shop as commercial rent....
can i remain in composition scheme
or i have to opt out...
Normal scheme would create difficulty for me??
what should i do
pls help
Menu
composition dealer collect commercial rent
Replies (38)
Renting of property is a service and composition scheme is not available for services. so, you have to opt out of composition scheme
the shop is in name of M/s abhay kumar jain
having proprietor ..sri abhay kr jain....
but we recieved rent in individual rent named sri abhay kumar jain...
moreover the rent is divided into 5 co owners/family member out of which 3 are unregistered and 1 is registered...
is there any way out...
having proprietor ..sri abhay kr jain....
but we recieved rent in individual rent named sri abhay kumar jain...
moreover the rent is divided into 5 co owners/family member out of which 3 are unregistered and 1 is registered...
is there any way out...
Proprietorship and proprietor is same...... Receive rent in cash or in other name
is it possible that one co-owner /family member who is registred under gst
collect rent including gst then there would be no evasion of gst ..
n pays himself income tax on entire rent
then i dont have to opt out of composition??
.
collect rent including gst then there would be no evasion of gst ..
n pays himself income tax on entire rent
then i dont have to opt out of composition??
.
Composition dealer is not eligible for collecting gst
if all the members of family give authority to one of its member to collect rent ...and accordingly he collects rent including gst ..
and afterwards pays income tax himself on entire rent receipts ...
other family members are not at all involve in paying gst and income tax
is there any problem??
another question..
what will be the penalty if a composition dealer collect commercial rent of rs 2000 per month only ??
and afterwards pays income tax himself on entire rent receipts ...
other family members are not at all involve in paying gst and income tax
is there any problem??
another question..
what will be the penalty if a composition dealer collect commercial rent of rs 2000 per month only ??
2000 per month is such a small amount... No need to. Pay gst
But u r a composition dealer so u can't charge gst on that rent... It is advisable received rent in the name of other family members
what will happen or what is the penalty if i dont charge any gst on rent
No consequence has been arisen for such a small amount Rs. 2000
actually its 1kh for a year as my share in rent
can i convert sole trading into patnership ( make my son a patner)
and get patnership pan card...
so that i dont have to opt out of composition scheme?
if yes what will be the advantages n disadvantages of patnership for me
and get patnership pan card...
so that i dont have to opt out of composition scheme?
if yes what will be the advantages n disadvantages of patnership for me
GST registration is pan wise... For partnership separate pan card should be there.... So u hv to take separate registration in gst
1)in that case do i have to close soletrading firm?
2)how to close soletrading firm?
3) can i show all my stocks (around 7 lakh only )sold out??
2)how to close soletrading firm?
3) can i show all my stocks (around 7 lakh only )sold out??
Recent Threads
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
Related Threads
CAclubindia
