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Taxation for functional hall

kollipara sundaraiah (B.com) (1558 Points)

14 May 2020  
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)   (7337 Points)
Replied 14 May 2020

1 Like

Pankaj Rawat (GST Practitioner) (51634 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

Piali Roy Chowdhury (600 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...
2 Like

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