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GST on security deposit on rent

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(Querist)
17 October 2020 whether we have to pay GST on security deposit received amount.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
17 October 2020 Since “Deposit” does not include in definition of “Consideration” and hence no GST will be levied on it. If on happening of a contingent event if Security deposit is adjusted into consideration then GST will be paid on it.
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Daya

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Daya (Querist)
17 October 2020 Thanks sir,
to prompt reply.




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