Experts say that commercial developers may re-negotiate their rents if their contract permits it, and then pay GST on lower rents
Commercial real estate developers have to pay Goods and Services Tax (GST) of 18% on rent, even if it is not realised during the current COVID-19 lockdown, as per norms.
Commercial malls have not been functioning in the State, since the lockdown was imposed towards the end of March. While “If the invoice is raised for rent, then GST has to be paid, even if the rent is not realised. What the commercial developers can do in the current ...
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