Hi,
Assuming professional income of your friend is in the nature of salary and not in the nature of consultancy fees, you friend does not cross the threshold of 20 lacs for gst applicability.
Hence, he need not registered in the GST .
Sir/madam, my friend constructed 8 housing units (2 units on each floor) 1 in a residential plot and is Renting the same to M/s OYO who in turn will be renting it out as Paying guest accommodation. My friend is a software professional working for a MNC. the annual rent from the property paid by OYO is around INR 18 lakhs. Does my friend have to pay GST on the rent.. Please advise Venkateswara Rao Bangalore
Hi,
Assuming professional income of your friend is in the nature of salary and not in the nature of consultancy fees, you friend does not cross the threshold of 20 lacs for gst applicability.
Hence, he need not registered in the GST .
Does he have any other receipt other than this?
The income from MNC is in form of salary or professional fees?
If it's salary no need to register under GST if not salary register under GST and pay GST on rent.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you
- In case of services, threshold limit is Rs.20 lacs. Once it crossed it then you need to obtain GST registration and collect GST from the OYO.
- If GST is already obtained then you need to collect it irrespective of turnover.
- Assuming he is getting salary from the MNC.
Dear Sir,
Hope you are doing well !!
He will be liable to obtain GST registration only if the turnover/receipts crosses the threshold limit of Rs. 20 lacs (Assuming he is an employee getting salary from the company).
Hello,
If your friend is working as an employee for the MNC, then he would be liable for GST registration only if his total rental receipts crosses Rs. 20 Lacs.
Otherwise, if he has already taken registration, then he has to pay GST on rent.
I hope this answer satisfies your requirement.
Regards,
CA Hunny Badlani
Hello Sir,
Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration.
So, he is not required to get GST registration.