14 August 2019
We have Leased out Machinery for Rubber product for a period of 10 Years. The Lease Rent is received every month. The title of assets remains with us at the end of the Lease period. We have collected GST from July,2017 on wards and paid the same regularly. Now the Tax Office has informed us that such lease arrangement attracts "cess" for which we are being held liable. We need advise from experts on this issue. What happens about the GST amount paid by us till date ? Ali Akbar aliakbarsb@gmail.com
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