Dear
I am owner of commercial complex and my rent came under purview of GST.
Rent agreement of one of my tenant was expired two years back. From that date I have not received any rent from the tenant. As such in absence of any agreement I have also not credited any rent on accrual basis.
The tenant made provision of outstanding rent in their books of accounts and also deducted TDS on it. The said TDS is also reflected in my 26AS.
Now, the rent agreement is executed and the tenant is ready to pay the entire rent to me after deducting the TDS.
In this case, please advice if I credited the accrued rent than what about the GST liability. On the other hand if I do not credit the Rent on accrual basis, then what is the treatment of TDS deducted by tenant in earlier years.
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GST v/s TDS
Replies (3)
| Originally posted by : Sudhir Goyal | ||
 |
DearI am owner of commercial complex and my rent came under purview of GST.Rent agreement of one of my tenant was expired two years back. From that date I have not received any rent from the tenant. As such in absence of any agreement I have also not credited any rent on accrual basis.The tenant made provision of outstanding rent in their books of accounts and also deducted TDS on it. The said TDS is also reflected in my 26AS. Now, the rent agreement is executed and the tenant is ready to pay the entire rent to me after deducting the TDS.In this case, please advice if I credited the accrued rent than what about the GST liability. On the other hand if I do not credit the Rent on accrual basis, then what is the treatment of TDS deducted by tenant in earlier years. |  |
If You are liabile for Registration under GST Than You are liabile to pay GST beacuse Tenant have booked his expenses on the basis of Last year Agreement.
You have collect Amt With GST Interest and Penalty
The agreement took place a day before. They made provisions on the basis of previous agreement, which was expired 2 years ago.
No Option in your hand
Because your TDS have been deducted
GST Portal & Income Tax Portal are interrelated to each other
Now It's better to show income in the month of March-18 and pay tax accordingly.
As per my opinion is better for you.
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