TMI BlogDAMAGES SAC NUMBERX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Expert, A building has been given on lease rent in year 2010.A dispute has arisen for fixation/revision of rental claim. Presently, rental income being received ₹ 15 lac per month. A notice has been served upon the tenant requiring it to vacate the premises with in 30 days of receipt of notice. If the tenant fails to vacate the premises as aforesaid. it shall be required to pay damages ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 30 lac per month. However till now the tenant has not vacated the premises and paid rent as per existing practice(₹ 15 lac P.M) for three months after the issue of notice. Now my query is:- 1) How we should file GST returns for the concerned three months i.e whether to show the rental income or damages income. 2) Which amount should be considered in course of filing of GST r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eturns i.e whether ₹ 15 lac or ₹ 30 lac. If answer to question 1 is damages income, which SAC should be used. REGARDS, WADHWA - Reply By KASTURI SETHI - The Reply = The matter is in dispute. You have not received ₹ 30 lakhs on account of damages so far. At present you are receiving rent only and NOT damages. Regarding claiming damages from the tenant, the matter may trav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el to the court. So file returns under the category of 'Renting of Immovable Property'. However, claiming damages are classified as under :- As per Schedule-II to the CGST Act 5(e) agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act . HSN 9997 (999794). - Reply By Ganeshan Kalyani - The Reply = I agree with the views ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Sri Kasturi Sir. You have to show the rent income received from your tenant and not the damage income. Even if you raise a Tax invoice for Liquidated damage of double the rent value then you will be bound to pay the GST @18% on the damage income to the govt by due date. If you pay this amount and file return your tenant will be able to claim 18% GST which you have paid. Instead, you may send ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... him legal notice. In legal language, if you keep receiving the rent income from tenant it is deemed that you agree for this stat in the rented property. Thanks. - Reply By Ganeshan Kalyani - The Reply = Please read stat as stay . - Reply By YAGAY andSUN - The Reply = Following link will be useful for you to understand this matter in details. https://www.taxmanagementindia.com/visitor/d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etail_article.asp?ArticleID=9223 - DAMAGES SAC NUMBER - Query Started By: - S.C. WADHWA Dated:- 28-12-2019 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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