Rajkot Nagrik Sahkari Bank ., In re
Date: May 15, 2019
Subject Matter
Notional interest/monetary value of the act of providing refundable interest free deposit will be considered as consideration
Summary
Question 1 : In the facts and circumstances of the case whether Refundable Interest Free Deposit received could be treated as Supply under the provisions of Goods and Services Tax Act, 2017? And chargeable to tax in the hands of the applicant? Answer…
2. M/s. Rajkot Nagarik Sahakari Bank Ltd, herein after called as “The applicant” or “RNSB” , has sought the advance ruling on following queries : i) In the facts and circumstances of the case whether Refundable Interest Free Deposit received could be treated as Supply under the provisions of Goods and Services Tax Act, 2017? And chargeable to tax in the hands of the applica…