Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

JOINT OWNERS OF THE PROPERTY AND RENT., Goods and Services Tax - GST

Issue Id: - 115392
Dated: 6-9-2019
By:- Sadanand Bulbule
JOINT OWNERS OF THE PROPERTY AND RENT.

  • Contents

Dear Sirs

Person A & B are the residents of Kerala and are joint owners of two commercial complexes in Karnataka. They have one joint bank account and received ₹ 24 Lakhs as rent on commercial buildings during 2018-19. Both of them have filed Income Tax returns declaring 50% of their rental income and they have claimed that their individual turnover is less than ₹ 20 lakhs, the threshold limit prescribed and not labile for registration under GST.

The question is whether there is any provision under the GST Act for sharing the rental income like this and get away from registration under the GST Act?

Pl enlighten with relevant provisions.

Post Reply

Posts / Replies

Showing Replies 1 to 11 of 11 Records

1 Dated: 6-9-2019
By:- Alkesh Jani

Sir,

In this regards, I am of the view that, as per the Definition of "Person" given at Section 2 (84) (g) of CGST Act, 2017, the body of individuals (BOI) are also liable to register themselves under GST if the turnover exceeds threshold limit. The procedure followed by them may be for Direct taxes, but not for GST.

Thanks,

With Regards


2 Dated: 6-9-2019
By:- Sadanand Bulbule

Thank you so much Sir.


3 Dated: 6-9-2019
By:- KASTURI SETHI

Also Examine your issue in the light of the following decision :-

2018 (18) G.S.T.L. 152 (A.A.R. - GST) = 2018 (10) TMI 595 - AUTHORITY FOR ADVANCE RULINGS, KERALAIN RE : ELAMBRANCHERI KHALDOON


4 Dated: 6-9-2019
By:- Rajagopalan Ranganathan

Sir,

If a building is co-owned by two or more persons and the rent received is equally divided between them and share of each individual owner is below the small scale exemption limit of ₹ 20 lakhs then the individual owners need not get registered under GST Act and pay gst. vide ruling of AAR (Kerala) in Elambrancheri Khaldoon = 2018 (10) TMI 595 - AUTHORITY FOR ADVANCE RULINGS, KERALA


5 Dated: 6-9-2019
By:- Alkesh Jani

Dear Experts,

I fully agree with the decisions of Advance Ruling. However, it is important to note that the decision is binding only to the applicant and jurisdictional officer within the state. In the instant case, the querist have not gone for any sort of advance ruling, and no decision of high court of supreme court is available in GST. Therefore, it can be advised that querist may opt for provisional assessment or for advance ruling, to avoid any future litigation in the matter.

Thanks,

With regards


6 Dated: 6-9-2019
By:- KASTURI SETHI

I fully agree with Sh.Alkesh Jani Ji.


7 Dated: 6-9-2019
By:- Sadanand Bulbule

Thanks to all the experts for their fabulous clarifications with relevant rulings on the subject.

With profound regards to all.


8 Dated: 7-9-2019
By:- KASTURI SETHI

One case law pertaining to pre-GST era is being posted for guidelines to be taken care of. This judgement has been accepted by the department. On the basis of this case law, my client's case was decided in his favour. This can help you even in the GST regime.

2015 (40) S.T.R. 1146 (Tri. - Mumbai) = 2015 (9) TMI 790 - CESTAT MUMBAI COMMISSIONER OF C. EX., NASIK Versus DEORAM VISHRAMBHAI PATEL


9 Dated: 7-9-2019
By:- Sadanand Bulbule

Sethi Sir

Thank you so much for your comprehensive and thorough study of the issue on hand.I hope such intellectual discussion from multiple dimensions of the ticklish issues would certainly benefit not only the visitors of TMI in general but also in removing injustice to the genuine stakeholders.

Warm regards Sir.


10 Dated: 7-9-2019
By:- Ganeshan Kalyani

Sri Kasturi Sir is a sea of taxation. He has answer to all the queries. His drafting is too good. His selfless contribution is really appreciable.


11 Dated: 9-9-2019
By:- KASTURI SETHI

Sh.Ganeshan Kalyani Ji,

A huge thank you for your compliments !. Actually we learn from each other on this platform by sharing our knowledge and thus resolving the problems of the visitors of TMI site.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map || ||