GST on Individual person

Manish (Accountant) (250 Points)

19 May 2021  

Source of Income of an Individual unregistered person during a Financial year is :

100.00 L Salary

  20.00 L Interest on Loans (from Co.)

    5.00 L Interest from Banks (Saving/FDR)

    5.00 L Office Rent Received

  10.00 L Capital Gains on Share/MF Trading

    5.00 L Dividend

  15.00 L Compensation from Rented Property

 

- Is this person required to take GST Registration?

- As per my understanding, only Godown Rent received and Compensation on rented property are taxable under GST and if both these are crossing threshold limit, GST Registration is mandatory.  Is it correct?

Thanks in advance.