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TMI BlogDAMAGES SAC NUMBERX X X X Extracts X X X X X X X X Extracts X X X X ..... DAMAGES SAC NUMBER X X X X Extracts X X X X X X X X Extracts X X X X ..... quiring 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 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 r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eturns 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 returns 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 lak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hs 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 travel 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o 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 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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 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". Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply By YAGAY andSUN:
The Reply:
Following link will be useful for you to understand this matter in details.
https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=9223 X X X X Extracts X X X X X X X X Extracts X X X X
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