Rental Income Below Rs. 20 Lakh exempt from GST

New Delhi, July 11: India has successfully launched biggest tax reform 10 days ago. The Goods and Service Tax has been launched on July 1, 2017. The Government has clarified some of the doubts and the master training classes are being continued.the doubts which are clarified are

* No GST is applicable for gifts worth RS 50,000 per anum which companies give to their employees.

* The Government has also exempted GST for free membership received by employees to Health centers, clubs, and Fitness centers.

* The gifts include only the voluntarily donation of companies and not as a requirement of an employee.

* All traders must display GSTIN number on Sign Board and registration certificate must be displayed in shops.

* All dealers who are in composition scheme must display that they don't have a right to tax the customers.

* Rental Income above RS 20 lakhs on houses and Commercial places would attract GST.

* The Government has also issued clarification regarding the tax rates that are applicable to restaurants and hotels.