AAR: Returnable interest free security deposit, not ‘Consideration’; GST not leviable

Apr 11,2019

Maharashtra AAR holds that GST is not applicable on interest free security deposit taken from lessee as security against damages to property such as furniture, fittings attached with the property or any damage to the property leased; Elucidating that there should be a close nexus between the payment and supply and thus any payment /exchange/barter etc. would be treated as consideration for supply and liable to GST, clarifies that ‘the deposit given in respect of s...

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