we have accepted security deposit against contract taxable under gst
Pandurang Pachpind (66 Points)
06 August 2017
we have accepted security deposit against contract taxable under gst
1 Replies
Geetha Varadarajan
(Ministry of finance)
(180 Points)
Replied 06 August 2017
it depends on the contract. if the security deposit is refundable after the performace of the contract, then it is not consideration and only a securty hence not taxable under GST. But if the security deposit is adjustable towards any payments in the persofrmance of contract, then such a deposti on the date of such adjustment it will be attracting GST.
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