Rajnath Private Limited is registered under GST in the State of Uttar Pradesh. It is engaged in supplying three products – Product Theta, Product…

Computation of gross GST liability on outward supply of Rajnath Private Limited for the month of August Particulars Value (₹) GST (₹) Supply of Product Theta [Liable to GST @ 12%] 50,00,000 6,00,000 Supply of Product Omega [Exempt from GST] 1,00,00,000 Nil Supply of management consultancy services [Liable to GST @ 18%] 50,00,000 9,00,000 Renting of commercial complex to local traders of electronic goods [Services by way of renting of residential dwelling for use as residence are exempt from GST. Thus, renting of commercial complex is taxable and GST is payable on the same @ 18%.] 50,00,000 9,00,000 Export of Product Delta [Export of goods is a zero-rated supply in terms of section 16(1)(a) of the IGST Act, 2017. A zero-rated supply can be made without payment of tax under a LUT in terms of section 16(3)(a) of that Act.] 1,00,00,000 Nil Export of consultancy services [As per section 2(6) of the IGST Act, 2017, an activity is treated as export of service if, inter alia, payment for the service is received in convertible foreign exchange or in Indian rupees wherever permitted by the RBI. Since in case of exports to Nepal, RBI regulations allow receipt of payment in Indian rupees, exports of services to Nepal are treated as 'normal exports'. Export of services is a zero-rated supply in terms of section 16(1)(a) of the IGST Act, 2017. A zero-rated supply can be made without payment of tax under a LUT in terms of section 16(3)(a) of that Act.] 20,00,000 Nil Sale of building [Sale of building is neither a supply of goods nor a supply of services in terms of para 5 of Schedule III to the CGST Act, 2017, provided the entire consideration has been received after issue of completion certificate by the competent authority or after its occupation, whichever is earlier. Hence, the same is not liable to GST.] 2,50,00,000 Nil Interest received on investment in fixed deposits with Haribhari Bank [Services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest are exempt vide Notification No. 12/2017 CT (R) dated 28.06.2017] 10,50,000 Nil Sale of shares [Shares are neither goods nor services in terms of section 2(52) and 2(102) of the CGST Act, 2017. Hence, sale of shares is neither a supply of goods nor a supply of services and hence, is not liable to GST.] 2,50,00,000 Nil Supply of cigarettes [Liable to GST @ 28%] [Excise duty is included in the value since as per section 15(2)(a) of the CGST Act, 2017, value of supply includes all taxes, duties, cesses other than GST.] 1,00,00,000 28,00,000 Supply of petrol and diesel [Supply of petrol and diesel is not leviable to GST as per section 9 of the CGST Act, 2017.] 80,00,000 Nil Amount received from Devi Prasad Private Limited for sponsorship of the business exhibition [Tax on services provided by any person by way of sponsorship to any body-corporate located in taxable territory is payable by the recipient (Devi Prasad Private Limited) under reverse charge. Thus, tax on such services is not payable by Rajnath Private Limited.] 6,00,000 Nil Total GST liability on outward supply 52,00,000