GST limit

Hi,

Hope you are doing well !

No, GST will not be applicable in that case.

Yes, you will get the GST refund.

Hi,

- You collected GST from the tenant therefore you will not get refund of it as it was the cost or ITC of the tenant.

- You can apply for cancellation of the GST citing the reason that the taxable turnover will be below the threshold limit.

- Unless you surrender the registration you will be liable to charge GST and file the returns.

- In your case, refund is applicable when there rate of input GST is more than output GST.

Thanks

GST no once taken, will be liable for GST. Yes you can apply for cancellation of no

Hi,

Just apply for GST no cancellation.

After that, you will not be liable to charge GST.

Yes, if you have ITC credit then you will GST refund.

Hi,

- Yes you can apply for cancellation this month.

Thanks

Yes, you can apply for cancellation of GST registration in this month itself .

Apply GST cancellation in this month.

There is no time limit for that.

Since you have already collected the gst and deposited it now it's tenant's ITC and you can't claim refund of it.

If your turnover is below 20 lakh you can surrender your gst registration and stop collecting GST but till the time you possess gst registration you need to collect gst and file return.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Hi,

Once GST Registration is obtained, GST has to be collected and paid despite the fact that the rent income has reduced. Simply put GST has to be collected and paid even if the rent income is minimal of Rs.10.

Hence, GST will still be applicable even though the rental income is below 20 lakhs.

Regards,

Siddhant Shah

Hi,

If you have excess of Input credit and you wish to cancel your registration you can do so and claim refund only on excess ITC available. GST collected and paid on Rent cannot be claimed as refund.

Hope your queries are resolved.

You can reach us for more details.

Regards,

Siddhant Shah

Apply for cancellation and stop collecting GST from date your registration is cancelled

Hi,

Since you are GST registered, GST has to be collected and paid irrespective of the total income levels. So GST will be applicable in your case.

Unfortunately, GST collected and paid on Rent cannot be claimed as refund. So you will not be able to claim refund.

Yes you can cancel your GST refistration number this month itself.