https://www.taxtmi.com/caselaws?id=385024 AAR Gujarat ruled that refundable interest-free deposits of Rs. 2,500 received by demat service providers do not attract GST as they fall under the deposit exclusion in Section 2(31) of CGST Act, unless applied as consideration. However, the notional interest or monetary value of providing such deposits constitutes taxable consideration. The first 10 free transactions (up to Rs. 5 lakh) offered to deposit holders qualify as discounts under Section 15(3) and remain non-taxable if prescribed conditions are met. en-us Wed, 15 May 2019 00:00:00 +0530 Tue, 11 Mar 2025 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385024 AAR Gujarat ruled that refundable interest-free deposits of Rs. 2,500 received by demat service providers do not attract GST as they fall under the deposit exclusion in Section 2(31) of CGST Act, unless applied as consideration. However, the notional interest or monetary value of providing such deposits constitutes taxable consideration. The first 10 free transactions (up to Rs. 5 lakh) offered to deposit holders qualify as discounts under Section 15(3) and remain non-taxable if prescribed conditions are met. Case-Laws GST Wed, 15 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385024