GST ON DEPOSIT

A deposit whether refundable or not given in respect of supply of goods or services or both shall not be considered as payment made for supply unless the supplier applies the deposit as consideration for the supply made. So till the supplier applies the deposit as consideration no GST will be applicable.When deposit is adjusted against payment for supply then GST will be applicable.

But the provisions of the Companies Act.2013 for acceptance of Deposit is required to be taken care of in the above case.