GST on refundable interest free deposit in Demat account & Free Transactions

In re M/s. Rajkot Nagrik Sahkari Bank Ltd (GST AAR Gujarat)

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 1: The monetary value of the act of providing refundable interest free deposit is the consideration for the services provided by the RNSB and therefo

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