A person having a rental income of Rs 18 Lakhs and also having turnover of Rs 16 Lakhs under the name of a proprietary business during the financial year, whether he/she is liable to be registered under GST Act? Or whether both the business segment will be considered separate and the limit will be considered separately?
11 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 01 March 2021
Not required for gst registration as it is lower than 40 lakhs rupees
Anil Rawat, ACA
(CA in Full Time Practice)
(68 Points)
Replied 01 March 2021
Saurabh 40 Lakhs limit applicable for goods only, please check.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 02 March 2021
You need to get yourself registered
hema
(cto)
(34 Points)
Replied 02 March 2021
If turnover is 20 lakhs for service and if you are liable to pay under RCM, Compulsory registration is req
Anil Rawat, ACA
(CA in Full Time Practice)
(68 Points)
Replied 02 March 2021
Yes, I also have the same view but I have met a CA yesterday, his point of view is that turnover for supplier should be considered separately for renting income as well as proprietary business turnover.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 02 March 2021
Cannot be separate if under same pan
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 02 March 2021
Registration is based on PAN India basis
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 02 March 2021
Turnover should be considered PAN India basis and will include both rental income and business income.
CA. Aditya Goel
(Chartered Accountant)
(681 Points)
Replied 04 March 2021
1. For GST registration you need to check aggregate turnover of the assesse and limit is 20 lakhs for Services and 40 lakhs for goods only subject to certain states
2. aggregate turnover - income from all the business/activities carried out under the same PAN will be added subject to some conditions and exemptions like salary income
3. in above case both the incomes (rental + business) will be added to check the limit
4 .rental income from residential property is exempt from GST but still be added in aggregate turnover.
hope this helps.
call me for any query or consultancy @ Nine 8 7 3 3 7 7 7 0 2
Regards
CA. Aditya Goel
Proprietor,
Aditya Goel & Co, Chartered Accountants
Anil Rawat, ACA
(CA in Full Time Practice)
(68 Points)
Replied 04 March 2021
Thank you so much sir, it is very helpful
CA. Aditya Goel
(Chartered Accountant)
(681 Points)
Replied 04 March 2021
lets connect over a call whenever you are available (have already shared my mobile no. in my previous post).
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