Avinash Jeevan Dsouza (Assistant In Charge Accountant) (3284 Points)
17 February 2018Do we need to collect GST on rent which is taken under mulgeni act/law?
Small rent amont is collected from the tenents. Amount will be less than Rs. 100 per year.
Kindly suggest me in this matter. Do we need to maintain any documents in this regard? We are running a trust.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174880 Points)
Replied 17 February 2018
What is total rent collection.......... is it for residential units/commercial?
What is aggregate turnover of the trust?
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3284 Points)
Replied 17 February 2018
Mulgeni rent is the purpose of residencial. (25,201.88 per year)
We are having other rental income (commercial) around 1 crore
Trust - TO is more than 100cr.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174880 Points)
Replied 17 February 2018
So, mulgeni rent over residential units is tax-exempt.
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3284 Points)
Replied 17 February 2018
Thank you sir.
We conduct national level and international level medical conference at our mnedical college. Which is being run by a trust. And we are registered under GST. We receive sponsorship for such conference and we collect entrance fees from the students those who wish to participare. Do we need to charge the GST on such receipt?
Read more at: https://www.caclubindia.com/forum/gst-on-conference-held-at-medical-college-449234.asp
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
