Avinash Jeevan Dsouza (Assistant In Charge Accountant) (3292 Points)
15 December 2017We are having a auditorium and we receive 20K as security deposit for any damage. If no damage is done we refund that 20K to party.
We are registered for GST and my query is do we need to collect the GST on the same and reverse the same while refund?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 December 2017
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 December 2017
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 15 December 2017
Thank you Sir.
If we take some amount for damage? Then TDS is applicable right?
Say we repay only 5K and we take 15K
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 December 2017
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 December 2017
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 15 December 2017
Thank you Sir. If we take some amount for damage? Then GST is applicable right? Say we repay only 5K and we take 15K.
Because we treat the 15K as income from that source.
CAclubindia
