Is GST aplicable on EMD forfit?

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10 Points Posted on 16 February 2022
please tell me all detail section wise about EMD Forfit
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On 16 February 2022 at 17:32 Report
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This discussion explores the applicability of GST on forfeited Earnest Money Deposits (EMD). It clarifies the purpose of EMD, particularly when received for selling goods, and examines scenarios where EMD is forfeited in contracts for operation, maintenance, erection, and commissioning. The Maharashtra power generation charge of 18% is also mentioned in relation to these deposits.

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28271 Points Posted on 16 February 2022
Emd given for what purpose?
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On 16 February 2022 at 17:51
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10 Points Posted on 16 February 2022
EMD received for selling goods
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On 16 February 2022 at 20:17
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28271 Points Posted on 17 February 2022
So it's a security deposit. Now why emd is forfeited?
Now earnest money deposit on operation and maintenance and erection çomissioning contracts.Maharashtra power generation charges 18%.
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On 17 February 2022 at 11:35

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