AAR: Services to Demat account holder against interest free deposit constitutes 'supply', notional interest, consideration

Aug 28,2019

Gujarat AAR holds that services provided by Applicant (a multi-state Schedule Co-operative Bank) to Demat account holders against interest free refundable security deposit amount to ‘supply’ and notional interest/monetary value of the act of providing such deposit would constitute a ‘consideration’; Notes that Applicant runs 3 different schemes for Demat account holders and account holder gets some free services only because he gives interest free security deposi...


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