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Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.?
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Q. Decide giving reason whether registration under GST is required or ...
Registration under GST for Mr. P
As per the GST Act, every person who supplies goods or services or both is required to obtain GST registration if the aggregate turnover exceeds the threshold limit. The threshold limit for GST registration is Rs. 20 lakhs (Rs. 10 lakhs for special category states) except for certain specified categories of persons who are required to obtain GST registration irrespective of turnover. Let's analyze the case of Mr. P to determine whether he is required to obtain GST registration or not.
Salary income
Mr. P is employed as the Audit head of ABC firm and drawing a salary of Rs. 50,000 per month. Salary income is not considered as a supply and hence not liable to GST. Therefore, Mr. P is not required to obtain GST registration on the basis of his salary income.
Rental income
Mr. P owns a residential property which he has let out for residential purposes at a monthly rent of Rs. 1,50,000. Rental income is considered as a supply of service and liable to GST if the aggregate turnover exceeds the threshold limit. However, if the aggregate turnover does not exceed the threshold limit, GST registration is not mandatory but optional. In this case, Mr. P's annual turnover from rental income is Rs. 18 lakhs (1,50,000 x 12) which is below the threshold limit. Therefore, Mr. P is not required to obtain GST registration on the basis of his rental income.
Tax consultancy income
Mr. P also provides part-time tax consultancy services and earns Rs. 5,00,000 per annum. Since tax consultancy services are considered as a supply of service and liable to GST, Mr. P is required to obtain GST registration on the basis of his tax consultancy income, irrespective of his turnover.
Conclusion
Based on the above analysis, it can be concluded that Mr. P is required to obtain GST registration on the basis of his tax consultancy income, even though his aggregate turnover from rental income and salary income does not exceed the threshold limit.
As per the GST Act, every person who supplies goods or services or both is required to obtain GST registration if the aggregate turnover exceeds the threshold limit. The threshold limit for GST registration is Rs. 20 lakhs (Rs. 10 lakhs for special category states) except for certain specified categories of persons who are required to obtain GST registration irrespective of turnover. Let's analyze the case of Mr. P to determine whether he is required to obtain GST registration or not.
Salary income
Mr. P is employed as the Audit head of ABC firm and drawing a salary of Rs. 50,000 per month. Salary income is not considered as a supply and hence not liable to GST. Therefore, Mr. P is not required to obtain GST registration on the basis of his salary income.
Rental income
Mr. P owns a residential property which he has let out for residential purposes at a monthly rent of Rs. 1,50,000. Rental income is considered as a supply of service and liable to GST if the aggregate turnover exceeds the threshold limit. However, if the aggregate turnover does not exceed the threshold limit, GST registration is not mandatory but optional. In this case, Mr. P's annual turnover from rental income is Rs. 18 lakhs (1,50,000 x 12) which is below the threshold limit. Therefore, Mr. P is not required to obtain GST registration on the basis of his rental income.
Tax consultancy income
Mr. P also provides part-time tax consultancy services and earns Rs. 5,00,000 per annum. Since tax consultancy services are considered as a supply of service and liable to GST, Mr. P is required to obtain GST registration on the basis of his tax consultancy income, irrespective of his turnover.
Conclusion
Based on the above analysis, it can be concluded that Mr. P is required to obtain GST registration on the basis of his tax consultancy income, even though his aggregate turnover from rental income and salary income does not exceed the threshold limit.
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Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.?
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Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.?.
Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.?.
Solutions for Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? in English & in Hindi are available as part of our courses for B Com.
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Here you can find the meaning of Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? defined & explained in the simplest way possible. Besides giving the explanation of
Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.?, a detailed solution for Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? has been provided alongside types of Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. P, a qualified C.A. based in Manipur is employed as Audit head of ABC firm, drawing salary of Rs.50,000 per month. He owns a residential purposes which is let out for residential purposes at a monthly rent of Rs.1,50,000. He also gives part time tax consultancy and earns Rs. 5,00,000 per annum.? theory, EduRev gives you an
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