Gross rental income exceeds 20lacs (residential purpose-15L & commercial purpose-10L).
So what will be my tax liability under GST?Also, do i have to register under GST?
Rental income from residential property is exempt from GST under mega exemption list and rental income from commercial property is taxable . However to derive the threshold limit of 20 lacs, aggregate turnover needs to be considered. Definition of aggregate turnover includes exempt supplies as well.
So registration is required in your case as value of taxable supply + value of exempt supply are exceeding 20 lacs.
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