Hi,
I am renting a shop for more than 20 years. There is no rent agreement between us and the owner since 2012. I was paying rent on time in cash and the owner never provided any receipts. The Owner is asking to vacant the shop but we requested the owner to consider 3-4 years more as we need to establish our business in a new area.
The owner has complained in the GST office that we are paying GST without a rent agreement since 2012, he might even said that we did not pay any rent since no proof of rent in place.
We will receive a notice from the GST office soon to explain and might happen to pay a heavy penalty? If this happens, any ideas for such penalties? Can I assume 10-20 lacks?
Our GST registration can cancel as we think the owner will not proceed with any rental agreement. So, I feel that our shop might shut as we can become illegal for doing business. Can I face any legal proceeding in the above situation?
Please suggest some solution so we can prepare some options or can accept the services from an expert. we are located in Uttarpradesh.
Thanks
