Combating the GST avoidance, the Haryana government will exchange data regarding business rent or lease documents with the Haryana Excise and Taxation Department.
Pranab Kishore Das, ACS and FCR, and Anurag Rastogi, ACS (E & T), met to talk on the topic of GST avoidance in the rental of immovable property excluding those rented out for the residential causes.
Under the GST Act, 18% GST would be levied on any rental immovable property excluding those rented to residential causes. As a result, any assessee with the revenue exceding Rs 20 lacs who furnished the rent of immovable services is need to enroll and furnished the GST.
The state government has found that several people and institutions that rent out the commercial buildings and underreport or come to show these transactions as per GST.
The government has decided to build a regular data exchange process between the revenue department and the excide and the taxation department. The same should pose the data from the formerly recorded leases.
The government shall execute the system-based checks like fetching the lessors PAN or GSTIN in the buying of an e-stamp and property enrollment.
“The Haryana Excise and Taxation Department will initiate a special drive against the tax defaulters to recover tax on commercial rentals and leasing,.”
