Whether GST applicale or not on Security Deposit
Whether gst may be applicable on security deposited
Ravi SADhiyan (Practice) (4510 Points)
02 August 2017
Ravi SADhiyan (Practice) (4510 Points)
02 August 2017Whether GST applicale or not on Security Deposit
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 02 August 2017
The GST is applicable on supply ot on receipt of payment. If one gets a secuirty deposit ( like rental) then not liable. However if one gets an advacne due to demand for ones product the it is liable at the time of receipt.
The difference between advance and security deposit needs otbe understood clearly. Just changing the name doe snot make inot another.
Studentsca
(CA Practice )
(3577 Points)
Replied 02 August 2017
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