Tax calculation for functional hall
This query is : Resolved
14 May 2020
A gst registered regular scheme dealer service income from functional hall rents.
Income and expenses detailes for one month:
Rental income from functional hall rs.3 lacs
Advance from customers rs.50,000/-
Salary paid to workers rs.15000/-
Electricity charges paid rs.20000/-
Cleaning charges rs.1000/-
Staff welfare exp rs.500/-
How to calculate input itc value and output itc claim value and net gst payble show in gstr3b and gstr1 returns.
Income and expenses detailes for one month:
Rental income from functional hall rs.3 lacs
Advance from customers rs.50,000/-
Salary paid to workers rs.15000/-
Electricity charges paid rs.20000/-
Cleaning charges rs.1000/-
Staff welfare exp rs.500/-
How to calculate input itc value and output itc claim value and net gst payble show in gstr3b and gstr1 returns.
14 May 2020
No input ITC available from the above expenses as no GST paid on expenses.
Pay GST on 3 lacs rent and 50,000 advance received and show the same under GSTR 3 b and GSTR 1.
Pay GST on 3 lacs rent and 50,000 advance received and show the same under GSTR 3 b and GSTR 1.
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