TaxTMI 
TaxTMI 
GST implication on Security deposits
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....ST implication on Security deposits<br> Query (Issue) Started By: - Rajesh Kumar Dated:- 19-4-2022 Last Reply Date:- 19-4-2022 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>Sir , A taxpay....
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....er provides GTA and courier services. He has provided bank guarantees as security to their customers. Is there any gst implication on this amount of security? regards Reply By KASTURI SETHI: The Rep....
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....ly: Security deposit is refundable. It is a deposit and does not fall under the category of 'Advance Amount'. Hence not consideration. Section 2(31) of CGST Act "consideration" in relat....
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....ion to the supply of goods or services or both includes (a) _______________________ (b)_____________________________ Provided that a deposit given in respect of the supply of goods or services or b....
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....oth shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply; Reply By Shilpi Jain: The Reply: No gst liability on such a....
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....mount. Why is this doubt arising Reply By Ganeshan Kalyani: The Reply: Querist to elaborate his query so that experts can share their view.<br> Discussion Forum - Knowledge Sharing ....