TaxTMI 
TaxTMI 
2019 (4) TMI 807
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....VI KAMALKUMAR PATNI, seeking an advance ruling in respect of the following question: Implication of facts mentioned below on Sec. 22 of GST Act under various situations? At the outset, we would like to make it clear that the provisions of both the CGST Act and the MGST Act are the same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the CGST Act would also mean a reference to the same provision under the MGST Act. Further to the earlier, henceforth for the purposes of this Advance Ruling, a reference to such a similar provision under the CGST Act / MGST Act would be mentioned as being under the "GST Act". 2) Statement of relevant facts having a bearing on the ....
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....egistration under GST as Interest Income from Finance activity and Remuneration & Profit from Firm are not taxable. Case 3 Interest Income from Finance activity + Remuneration & Profit from Firm = 22 Lacs. Total earning of Rs. 32 Lacs has no implication on the business exemption under Section 22 of the GST Act for individual, hence I am not liable for registration under GST as Interest Income from Finance activity and Remuneration & Profit from Firm are not taxable. As per the provisions of CGST Act the rent received for the commercial purpose from commercial organization is taxable @ 18%, hence the same will be taxable receipt. As the rent income is below Rs. 20 lakhs, which is below the threshold limit under GST, kindly provide us the ....
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.... services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees: PROVIDED that where such person makes taxable supplies of goods or services or both from any of the special category States, he shall be liable to be registered if his aggregate turnover in a financial year exceed ten lakh rupees; 2) Every person who, on the day immediately preceding the appointed day, is registered or holds a license under an existing law, shall be liable to be registered under this Act with effect from the appointed day. (3) Where: a business carried on by a taxable person under this Act is transferred, whether on account of succession or otherwise, to another person as a going concern, the transferee or the successor, as the c....
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.... Notification No.12/2017-CT(Rate). In case the residential dwelling is not used as residence it is Taxable under GST. The applicant has disclosed that the unoccupied portion of her immovable property is let out to commercial organization on rent. Therefore the rent amount received against the renting immovable property is liable to tax under GST, if the income from rent for commercial purposes is above Rs. 20 lakhs.. (2) Interest Income from Finance Activity: Services by way of - (a) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount (other than interest involved in credit card) are exempted from goods and Services Tax (Sr. No. 27 of Notification No.12/2017-CT(Rate) Howev....
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.... of the firm is not in the nature of service and therefore not liable for tax under GST. 4. In addition to the above the comments called for at Sr. No. I to 9 may please be treated as *NIL' as the assesse is not registered with the department 4) Hearing - The preliminary hearing in the matter was held on 09.01.2019, Sh. Vaibhav Mandhana, C.A. appeared for the hearing. The Jurisdictional officer Sh. Manoj Donikar, Supt., Range-IV, Nagpur- I Commissionerate appeared and submitted the response of the jurisdictional office. On 26.02.2019 Sh. Mohan Rathi, C.A. appeared and once again it was brought to his notice that application was not accompanied with requisite fee and letter of authority. To remove this defect he was provided period ....