Hello.
Person A has regular GST registration for his proprietory business XYZ.
Person A also owns a commercial property in his personal name, which he wants to give on rent (approx. 20000 per month). Now, I understand that renting commercial property attracts GST. So, my questions are :
1. If i raise monthly rent invoices, and charge GST - will invoices be in the name from the firm XYZ, or will it be in Person A's personal name ?
2. If invoice is from XYZ firm, should the rent be received in firms account ? If yes, will it be business income or income from house property for person A ?
3. If invoice is from Person A's personal name, what will be the invoice numbers and how will person A reflect it in his GST returns ? (Since returns are of XYZ firms business)
I hope I got my question across.
Any help would be much appreciated.
Thank you.
CAclubindia
