One of my client own a commericial property he issue invoice of rent every month to the bank with 18% but bank pay without tax rent because rent deed is old. I mean before july 2017 kindly share your valuable feedback
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Quick Summary
A client is facing a dispute with a bank regarding Goods and Services Tax (GST) on commercial property rent. Although the client issues monthly invoices with 18% GST, the bank is paying the rent without tax, citing an old rent deed predating July 2017. The discussion explores whether the deed contains a clause for future tax liabilities and advises that GST is generally applicable and should be deposited with the government. It's suggested that a mutual resolution or a fresh rent deed might be necessary.