Page 69 - CA Final GST

Badlani Classes

(ii) Renting of religious place by specified entitles-Exempt (Entry 13) : Services by a
person by way of renting of precincts of a religious place meant for general public,
owned or managed by-
(a) an entity registered as a charitable or religious trust u/s 12AA of the Income-tax
Act, 1961; or
(b) a trust or an institution registered u/s 10(23C)(v) of the Income-Tax Act; or
(c) a body or an authority covered u/s 10(23BBA) of the said Income-tax Act.

However, nothing contained of this exemption shall apply to,-
(i) renting of rooms where charges are `1,000 or more per day;
(ii) renting of premises, community halls, kalian mandapam or open area, and the
like where charges are `10,000 or more per day:
(iii) renting of shops or other spaces for business or commerce where charges are
`10,000 or more per month.

(iii) Long term lease of industrial plots-Exempt (Entry 41) : Upfront amount (called as
premium, salami, cost, price, development charges or by any other name) payable in
respect of service by way of granting of long term lease of 30 years, or more of
industrial plots or plots for development of infrastructure for financial business,
provided by the State Government Industrial Development Corporations or
Undertakings or by any other entity having 50% or more ownership of Central
Government, State Government, Union territory to the industrial units or the
developers in any industrial or financial business area.
Property taxes shall form Part of Value All taxes, except GST shall form part of value.
Hence, property taxes shall form the part of the value.
Que. Mr. Shyam is an owner of various properties and furnishes following information.
Determine taxable value (all sums are exclusive of GST, if any):
1- Renting of commercial property : `20 lakhs (includes property tax `1 lakhs)
(interest/fine of `10,000 was paid):
2- Licensing of building with facilities like parking, lift, AC, furniture, etc,: `4 lakhs;
3- Rent earned from an inn: `2 lakh (declared tariff per day `900);
4- Rent earned from another inn: `2 lakh (`800 per day x 250 days)(declared tariff per
day was `1000)
5- Renting of residential dwelling for use as residence : `4 lakh;
6- Renting of non-residential building for use as residence : `5 lakhs;
7- Renting of residential dwelling for commercial purposes: `6 lakh;
8- Renting of building located at Jammu and Kashmir : `2 lakh;
9- Renting of vacant land for agricultural purposes: `3 lakh;
10- Renting of land for circus: `4 lakh;
11- Permitting placement of vending machines at premises: `1 lakh
Allowing mobile tower to be placed at rooftop : `4 lakh.
Ans. Computation of taxable value
(1) Renting of commercial properties [property tax would form 20,00,000
part of value]
(2) Licensing arrangement with various facilities: Principal Supply 4,00,000 Page68
is renting of immovable property- Entirely Taxable

Central Goods & Services Tax Act, 2017