Interest paid on security deposit

[KARAN VERMA]

Sir, whether GST applicable on interest received on security deposit.

AI Summary

GST Not Applicable on Interest from Security Deposits, Exempt Under Notification No.12/2017-CT(R) Dated 28.6.17 A query was raised regarding the applicability of GST on interest received from security deposits. Two responses clarified that GST is not applicable to such interest. The first response highlighted that interest on security deposits is considered normal interest and is exempt from GST under Notification No.12/2017-CT(R) dated 28.6.17. The second response reaffirmed that GST does not apply to interest, supporting the exemption status.