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RENTAL INCOME
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....ENTAL INCOME<br> Query (Issue) Started By: - PAWANKUMAR GARG Dated:- 5-9-2017 Last Reply Date:- 8-9-2017 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>Sir, I am a registered person having GSTIN and receiving rental income from BANK, Whether I am liable to pay GST on rental income or not. Please let me know whether I am liable to submit bill to the bank (under primary liability and charge....
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.... GST) on other hand what will be status if BANK pay GST under RCM. Reply By KASTURI SETHI: The Reply: You are liable to pay GST on rental income if you cross threshold exemption. Renting is not under RCM. Reply By MARIAPPAN GOVINDARAJAN: The Reply: I endorse the views of Shri Sethi. Reply By Subodh Modak: The Reply: Sir, A different question. I was having vat no and now gst no. I hv taxabl....
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....e turnover in trading activity. Also having rental income from commercial property which is less than 5 lakhs per year. I am the proprietor of trading business. Do I need to charge gst now on rental income? Is excees credit of trading activity can be Set off aganist tax charged on rental? Subodh Modak Reply By MARIAPPAN GOVINDARAJAN: The Reply: Yes, you have to charge GST on rental income.....
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.... GST registration is common for goods and services. It is supply of services or goods or both. If your aggregate turnover in all your activities exceeds ₹ 20 lakhs per year you have to charge GST and pay to the credit of the respective Government. Reply By Ganeshan Kalyani: The Reply: You have mentioned that your turnover is less than the threshold limit. Hence you are not liable to regist....
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....er under GST. Bank has to pay GST under reverse charge.<br> Discussion Forum - Knowledge Sharing ....