M/s Basundhara Properties is a registered person under GST. Its main business is renting of various Immovable properties owned by them. The following collections are made in the course of its business during the month of

Computation of GST Payable for the month of March, 2021 Particulars Amount (₹) (i) Building let to a theater 50,000 (ii) Premises let to a Charitable Trust 45,000 (iii) Land let for use by Asian Circus 90,000 (iv) Houses let to individuals for residential purpose NIL (v) Vacant land let used for Agriculture purposes NIL (vi) Land given on lease to Titu Ltd. for construction of a commercial complex 60,000 (vii) Building let to a coaching centre 45,000 (viii) Building let to a Hotel 50,000 Total Taxable Supply 3,40,000 GST Payable on 3,40,000 @ 18% 61,200 Note: As per Entry No. 12 of Notification no. 12/2017 Central Tax (Rate) dated June 28, 2017 Services by way of renting of immovable properties for use as residence are exempt. As per Entry No. 54 of Notification no. 12/2017 Central Tax (Rate) Services by way of renting or leasing of agro machinery or vacant land with or without a structure incidental to its use relating to cultivation of plants and rearing of all life form of animals, except the rearing of horses, for food, fibre, fuel, raw material or other similar products or agricultural produce are exempt. GST is on reverse charge for Long term lease of land (30 years or more) by any person against consideration in the form of an upfront amount (called as premium, salami, cost, price, development charges, or by any other name) and/or periodic rent for construction of a project by a promoter. [Notification 05/2019 Central Tax (Rate)] It is assumed that in Point (vi), it is not long term lease and hence forward charge is applicable.