Whether GST applicale or not on Security Deposit
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Whether gst may be applicable on security deposited
Replies (2)
The GST is applicable on supply ot on receipt of payment. If one gets a secuirty deposit ( like rental) then not liable. However if one gets an advacne due to demand for ones product the it is liable at the time of receipt.
The difference between advance and security deposit needs otbe understood clearly. Just changing the name doe snot make inot another.
GST is not applicable on Security Deposit.
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