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TMI BlogGST implication on Security depositsX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir , A taxpayer 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 KAS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TURI SETHI - The Reply = 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 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsideration in relation to the supply of goods or services or both includes (a) _______________________ (b)_____________________________ Provided that a deposit given in respect of the supp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly of goods or services or both 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 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply = No gst liability on such amount. Why is this doubt arising - Reply By Ganeshan Kalyani - The Reply = Querist to elaborate his query so that experts can share their view. - GST implica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion on Security deposits - Query Started By: - Rajesh Kumar Dated:- 19-4-2022 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sonal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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