Question ID :
36947
Registration
Individual service provider having TO of 10L per annum, Sold a residential property for 20L (Personal asset) and Shares for 20L. is he require to obtain GST registration
Posted by
Sai Ram
on
Jan 25, 2019
Filed Under
GST
Definition of Supply clearly specifies - Supply for a consideration in COURSE OR FURTHERANCE OF BUSINESS, hence transfer of personal asset shall not form of TO for calculation of limit of 20 Lakhs.
Posted by
Ashish Kumar Goyal on
Jan 25, 2019
Answer ID :
76222
No need to get registration under GST as GST is not applicable on sale of residential house by an individual not doing business of real estate. Similarly, No GST is applicable of sale of shares.
Posted by
CA. SATISH CHAND GARG on
Jan 25, 2019
Answer ID :
76223
No need to get registration under GST as GST is not applicable on sale of residential house by an individual not doing business of real estate. Similarly, No GST is applicable of sale of shares.
Posted by
CA. SATISH CHAND GARG on
Jan 25, 2019
Answer ID :
76227
An individual sold property (personal asset) for 20 Lacs and Shares for 20 Lacs (Considering Share Trading is not part of his business); both are Capital Assets and not covered under GST compulsory registration.
He has business turnover of 10 Lacs which is also not coming under GST compulsory registration.
In above case, there is no such requirement of GST Compulsory registration, However, if individual feels he can register himself under GST voluntary registration.
Posted by
CA. SHIVENDRA KUMAR GUPTA on
Jan 26, 2019
Answer ID :
76238
SCH III , ITEM NO -5, RESIDENTIAL PROPERTY ( personal asset ) shall not form of TO for calculation of limit of 20 Lakhs. NO need to registration.
Posted by
MANISH LOHIA on
Feb 02, 2019
Answer ID :
76292
no.
Posted by
CA. JHA SHANKAR KUMAR on
Feb 18, 2019