Aggregate Turnover

[Sanjeev Agrawal]

Hello respected members. Actually my query is that whether an assessee needs to pay gst if its has been running cold storage of potatoes only till date and now it has started to provide rental service to a sister concern belonging to the assessee's family members, only because its aggregate turnover i.e. cold storage receipts and rent receipts would be exceeding the threshold limit provided in the gst provisions?

AI Summary

Cold Storage Services: Navigating GST Exemptions and Rental Income Thresholds for Interconnected Business Entities A business operating a cold storage facility for potatoes is considering providing rental services to a sister concern. The key concern is GST applicability based on aggregate turnover. If total turnover exceeds the threshold limit (Rs. 20 Lakhs), GST registration becomes mandatory. Cold storage services for agricultural produce are exempt, but rental income may attract 18% GST. An interest-free security deposit might be a potential alternative to avoid direct rental charges.