According to gst act if the person commits offences under sec 132 1 (a to k)...then if the amount of tax evaded exceeds 1 cr then imprisomnent upto1 year and if bw 2-5 then 3 years and if above 5 cr then 5 years ... what if the tax evded is less than 1 cr .. Also the punishment for each offence is given seperatly or the amount of tax evaded is clubbed under each offence to give the final amount of tax evaded..? Or he will be prosecuted separately for each breach of sub sec a to k of sec132
Iam having a business registerd under gst with turnover 1.5 cr... last year i bought a shop and now i am thniking of it to giving on rent .. do i have to obtain a new gst number for that rental income? Or simpky i can show that income in itr without having gst number.. Also a friend of mine in govt job also bought a shop a that tym and he is also willing to rent it.. so he should have to obtain a gst number to give shop on rent .. is he eligible for that income as he is govt employee if yes than gstin number mandatory for him?
You are not required to obtain seperate GST no. But you will have to charge GST on rental income (which you can get back as input credit.)
Your friend is not required to obtain GSTN if he is not having rental income above Rs 20lac per year.(provided he does not have any other income)
Iam saying that iam having separate business and seperate rental income and my turnover of business is1.5 cr registered under gst.. i want to know that if i want to rent a shop and earn extra rental income apart from my business so do i have to obtain new gst number for that income from rent?? How can i show that in my gst and it return
Yes, you both need GST No. if the rental income is above Rs.20lacs.
Hi,
GST registration is PAN number wise. If you are conducting your business under your PAN and rental income is also under your PAN then you don't need to take separate GST registration.
You can show the rental income under same GST number.
What do you mean by how will you show it in GST and IT? What do you exactly want to know?
Hi,
If you are earning business income as well as rent income under the same PAN then there is no requirement to take separate GST registration.
For your friend GST number is required only if his turnover from that rent exceeds ₹40 lakh during a year and with regard to you since you are going to rent the shop under your own PAN registered with GST you don't need seperate GST number for this rent income you only need to add the HSN code of this income in your GST registration and you can easily show this rent income along with your other income in GST return.
If you need any help in filing ITR or GST return do let me know.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you
