SIR,
A composition scheme gst registered dealer sale of goods turnover rs:55 lacs show only in CMP-08 AND GSTR4 annual return filed in f.y. 21-22.but dealer sales of goods turnover rs:64 lacs (dealer sales turnover increased stock adjustment purposes) and rents income from commerical property rs:2,40,000/- declared in income tax returns in f.y. 21-22.
query:
Dealer sales increased difference turnvover rs: 9 lacs and rental income rs:2,40,000/- show procedure in gst returns in f.y. 21-22 and difference turnover tax pay procedure.
Regarding Rent income from commercial property: –
GST @18% is applicable on Rent from commercial property. Hence the owner have to issue Tax invoice charging GST on Rent. This GST invoice is filed in GSTR-1 along with other invoices issued during the period. GST is deposited with GSTR3B.
Revision of CMP-08 and GSTR-4: –
please note that IF CMP-08 once filed cannot be revised.
Please also note that GSTR-4 cannot be revised.
Any rectification can be done in next period.
for more detail please click here
GST @ 18% is applicable on Rent from commercial property.
Hence TAX invoice is required to be issued for rent income. and this invoice is to be filed with GSTR-1.
and GST is to be deposited with GSTR-3B.
With respect to revision of CMP-08 and GSTR-4, please note that CMP-08 and GSTR-4 once filed cannot be revised.
any mistake may be adjusted in next period return.
for more detail click here.