Deposit GST

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1 Points Posted on 12 November 2021
if deposit money is reduced for damage to property is GST payable on reduction
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On 12 November 2021 at 17:01 Report
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Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) is applicable when a deposit is reduced due to property damage. The consensus is that if the deposit is for a commercial property rental and is deducted for damages, GST is indeed payable. Essentially, GST is leviable whenever a deposit is adjusted against services supplied.

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Employee Private
1913 Points Posted on 12 November 2021
What sought of Deposit ..? If it is Rental deposit for commercial property and amount deducted on account of damage of property, GST has to be paid.
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On 12 November 2021 at 17:47
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GST Consultant
15986 Points Posted on 12 November 2021

Wherever deposit is adjusted for services supplied GST is payable.

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On 12 November 2021 at 18:26
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CA
10436 Points Posted on 12 November 2021
Yaa you are right Altamush
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On 12 November 2021 at 20:23
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Chartered Accountant
24588 Points Posted on 13 November 2021
Yes GST is leviable
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On 13 November 2021 at 05:56

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