Home Forum Goods and Services Tax - GST Month 7 2020 2020 (7) This
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gst treatment savings deposit - Goods and Services Tax - GSTExtract A NBFC receives deposits like savings bank from customers and pays interest on the said deposit placed minimum deposit is ₹ 500 /- however the customer is required to maintain the balance of ₹ 500 /- if the balance falls short of ₹ 500/- then the NBFC will write back the amount below ₹ 500/- after 2 years and it will be treated as income and then transferred to reserve account query whether this income ie deposit not paid back to customer which will be written back by NBFC will it be liable for gst
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