Aggregate Turnover
This query is : Resolved
05 January 2026
I HAVE INCOME FROM SERVICES AMOUNTING TO RS. 17 LACS. AND ALSO SAVING INTEREST OF 4 LACS IN PREVIOUS F YEAR. WHETHER I M LIABLE FOR GST REGISTIRATION.
OR I HAVE SALE OF GOODS AMOUNTING TO RS. 38 LACS AND SAVING INTEREST OF 4 LACS. WHETHER I M LIABLE FOR GST REGISTIRATION NEXT YEAR.
PL GUIDE IN BOTH CASES.
OR I HAVE SALE OF GOODS AMOUNTING TO RS. 38 LACS AND SAVING INTEREST OF 4 LACS. WHETHER I M LIABLE FOR GST REGISTIRATION NEXT YEAR.
PL GUIDE IN BOTH CASES.
06 January 2026
Not mandatory in either case.
06 January 2026
BUT IN MY VIEW IN CASE OF SERVICES INTEREST INCOME IS INCLUDED FOR AGGREGATE TURNOVER.
PL GUIDE
PL GUIDE
06 January 2026
Interest income from savings bank account is not included in aggregate turnover.
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06 January 2026
BUT ON READING THE AGGREGATE TURNOVER DEFINATION IT INCLUDES SAVING BANK INTEREST FOR GST REGISTIRATION PURPOSE. IF U HAVE SERVICES INCOEM THEN ADDED.
PL GUIDE OR SHARE ANY CIRCULAR
PL GUIDE OR SHARE ANY CIRCULAR
06 January 2026
Interest on savings bank accounts, FDs, loans, advances, PPF, etc. is treated as exempt supply of services if it arises from deposits/loans/advances in the course or furtherance of business, and therefore is included in aggregate turnover for registration threshold.
If a person is purely a salaried individual or investor and such interest is in the nature of personal investment income (not in course of business), many practitioners consider it outside the scope of “business” and therefore not to be counted, but this is not expressly clarified in law and AARs have generally taken an “include” view where the person is otherwise in business.
If you are primarily an individual with small business or professional receipts plus usual bank/PPF interest, the safer view, consistent with AARs, is to include such interest while calculating aggregate turnover, unless and until CBIC issues a specific contrary clarification.
If a person is purely a salaried individual or investor and such interest is in the nature of personal investment income (not in course of business), many practitioners consider it outside the scope of “business” and therefore not to be counted, but this is not expressly clarified in law and AARs have generally taken an “include” view where the person is otherwise in business.
If you are primarily an individual with small business or professional receipts plus usual bank/PPF interest, the safer view, consistent with AARs, is to include such interest while calculating aggregate turnover, unless and until CBIC issues a specific contrary clarification.
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