watch_later 08/07/17

let us suppose if the taxable income from renting of a co ownership  property is say 30 lakhs & the no. of co-owners is say 4,since neither of their aggregate turnover crosses 20 lakhs are they required to get registered & collect gst

1 Response | Latest response: 08/07/17 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 08/07/17

Registration is required when turnover exceeds 20 lakhs in a year, for special states it is 10 lakhs.

Since for each co-owner the turnover will not exceed 20 lakhs registration is not required.

Now coming to second part, what will be impact of GST. Whether GST will be levied on renting of commercial business place or not?

Even if owners do not charge GST, company using your premises need to pay GST under RCM. So for your requirement for registration has ceased with this arrangement but GST still be charged, though not by you but under RCM.


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