Full time director deposited money in the business
This query is : Resolved
27 March 2017
We have full time derector if director deposted deposit in business. As per Goods defination in GST money and securities not includes then deposit is not a goods. But if company paid interest on deposits to director is it covers under the defination of goods or service or it is a money trasations plesae explain.
12 April 2017
No, it is a money transaction and GST shall not attracted.
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