Accounting and taxation of cinema hall

A person running a cinema theatre gst new registered in gst act recently.
question:
dealer accounting records and taxation(input and output itc claim procedure).
Replies (4)
Quick Summary
This discussion covers the accounting and GST implications for a newly registered cinema hall. It outlines key areas to consider, including the nature of the business (e.g., purchasing film rights vs. profit-sharing), various income streams like ticket sales and advertising, and necessary expense records. The guide also touches upon maintaining GST records as per the CGST Act, applicable tax rates, and the prevalence of B2C transactions, recommending professional advice from a CA and consulting ICAI guidance notes.

First need to find the status of Cinema hall .Is it purchasing rights for motion pictures ?

Or Its just operating on behalf of another on % of profit basis ?

Category , retailer or distributor or producer ?
Sales register
1) sale of tickets
2) Advertisement and exibition
3) restaurant sale
4)any other income .

5)Advance booking of tickets
6)stock of tickets at the end of the day
7)free pass record

8/) purchase expenses
payment made for Film hire
Bills of distributor
Advertisement expenses
repair and maintenance expenses
Other expenses

9) Fixed asset register
10) cash Bank records
11) payment and receipt records
12) any other tax collected

GST record to be maintained as per section 35 of the CGST act . GST will be applicable as rate proscribed . Most of the transactions will be B2C .

Take professional help from CA near by you .
It's better to once go thru guidance notes issued by icai in this regard.
Dealer services category retailers

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