Full time director deposited money in the business
This query is : Resolved
RUSHI GSTM
(Querist)
27 March 2017
We have full time derector if director deposted deposit in business. As per Goods defination in GST money and securities not includes then deposit is not a goods. But if company paid interest on deposits to director is it covers under the defination of goods or service or it is a money trasations plesae explain.
Rajesh Kumar
(Expert)
12 April 2017
No, it is a money transaction and GST shall not attracted.
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