Our bank had deposited a sum of Rs. 36 Lakhs with DMRC, as 100% Refundable Security Deposit, against Installation on ATMs on Metro Stations across Delhi Region.
Now the bank has terminated the contract and removed the ATMs.
DMRC has released the complete amount to us and now we are in process to credit the same to our Income Heads. Kindly let me know whether GST will have to be discharged on this amount or not. We want to be sure before crediting it to Non Taxable Commission Head in our books.
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GST on 100% Refundable Security
Replies (1)
No,... how can you consider the refundable security under the Income Head in your book of account & there is no GST on security refundable.
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