Hello.
I am a business man from Chennai. I had Registered for gst. My business income is from inter state sale of fabrics and garments which is under 10 lakhs a f.y. I also earn commercial rent of 6 lakhs and residential rent of 4 lakhs. Total turnover will be below the exemption limit of 20 lakhs. I am told that since I have registered for gst number and also supply goods inter state I need to collect and pay gst. My doubt was that I have to collect gst only on inter state supplies of goods or the commercial rent which I am receiving in Chennai also. My sense of understanding is Since I am below exemption limit I need not collect gst on commercial rent. Residential rent is exempted anyways. Only I need to collect 5 percent tax on fabrics and garments for inter state supply and pay. Please confirm I am right.
Thank you.
CAclubindia
