Gst on security deposit received.
This query is : Resolved
Avinash Jeevan Dsouza
(Querist)
15 December 2017
We are having a auditorium and we receive 20K as security deposit for any damage. If no damage is done we refund that 20K to party.
We are registered for GST and my query is do we need to collect the GST on the same and reverse the same while refund?
We are registered for GST and my query is do we need to collect the GST on the same and reverse the same while refund?
Arun Kumar Singh
(Expert)
15 December 2017
No need to pay GST on security deposit. Because you have not received these amount against the supply of goods.
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