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rent income with retail
I have retail shop and also rent income can I go with composition scheem
Replies (8)
no.You can opt for composite scheme as rental income will be treated as supply of service. Currently service provider can't opt for composite scheme except restaurant.u have to take normal registration for retail shop and rental income if all the total turnover exceed Rs. 20 lk.
no.You can opt for composite scheme as rental income will be treated as supply of service. Currently service provider can't opt for composite scheme except restaurant.u have to take normal registration for retail shop and rental income if all the total turnover exceed Rs. 20 lk.
total turnover for this year 17-18 or 16-17
Financial year 17-18 will be the year in which you will be liable .
if my turnover blow 20 lakh in 17-18 then
No liability to get gst registration till Rs. 20 lk in the FY 17-18
what's the position if rental is less than rs.20lacs in one state and business in another state and business is registered under GST. Does registration required for rent in the state where property is located ?
No registration is optional as it is falls under different business vertical
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