Rahul Rai
watch_later 3 years ago
Whether security deposits paid for house rent or machinery or other purpose is to be taxed under GST?
Whether advance paid is considered as consideration and charged tax on it?
Deposits paid for security are not covered under definition of consideration and tax is not to be charged. However advance payments are different from security deposits and are very well covered under the definition of consideration and hence tax will need to be charged.
Join the largest Taxation Q&A platform on internet and ASK YOUR OWN question.
Ask your QuestionYou need to be logged in to answer.
Features of Making Payment on Voluntary Basis (Form GST DRC-03) on GST Portal
Check your GST numbers in bulk. Check unlimited GST numbers with very cheap packages.
