assess gst registered regular scheme as functional hall.
total income and expenses detailes for month.
1.rental income from functional hall Rs.3,50,000/-
2. advance received from customers rs.50,000/-
3.salaries paid workers Rs.10000/-
4. electricity charges paid rs.20000/-
5. cleaning charges Rs.1000/-
how calculation of input and output and tax payble for one month in gst returns(gstr3b and gstr1)
3 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36365 Points)
Replied 14 May 2020
Https://www.caclubindia.com/articles/rate-applicability-on-banquet-hall-services-under-gst-34907.asp
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 15 May 2020
In regard to the expense incurred by you do not cover under GST . ie salary paid , Electricity Charges paid (On actual)
Yes if you are getting tax invoice for cleaning charges then you can avail ITC on same.
Hence the Only outward supply is left to report in GSTR 1 & 3B Rental income & advance from customer
Yes if you are getting tax invoice for cleaning charges then you can avail ITC on same.
Hence the Only outward supply is left to report in GSTR 1 & 3B Rental income & advance from customer
Piali Roy Chowdhury
(605 Points)
Replied 15 May 2020
Only the Rental Income and Advance Received from Customers needs to be reported in FORM GSTR-1 and FORM GSTR-3B. Advance Received incase of Supply of Services is also taxable.
As said by Pankaj Ji, you can avail ITC based on Invoices reflected in your FORM GSTR-2A and by satisfying Section 16(2) FOUR Conditions...
As said by Pankaj Ji, you can avail ITC based on Invoices reflected in your FORM GSTR-2A and by satisfying Section 16(2) FOUR Conditions...
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