GST on non refundable security deposit
This query is : Resolved
MURARI KARMHE
(Querist)
09 January 2020
My Company had received non refundable security deposit from clients which will be forfeited and recognized as income. Can anyone guide, whether GST will be applicable on such non refundable security deposit, which will form part of consideration.
If yes what will be the applicable GST rate?
If yes what will be the applicable GST rate?
CA R SEETHARAMAN
(Expert)
09 January 2020
Yes, as per the rate applicable for service /goods for which security deposit received.
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