A Doctor source of income show in it returns
1.professional income fees rs:60 lacs
2.sales of medicines turnover rs:105 yearly for pharmacy business turnover regular scheme in gst act
3.rents from commercial propertys rs:5 lacs yearly from un registered dealer
4.rent paid to pharmacy store rs:2,40,000/- for commercial propertys
5.agrilculture income rs:3 lacs year.
Question:
Dealer above mentioned incomes taxable or exempted in gst act
In your case rent from commercial property is taxable and GST at 18% should be charged. He is already having a turnover of more than 40 lakhs of medicine so must be registered under GST. In the same registration, he should charge GST on the rent charged for letting out commercial property.
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