Aggregate Turnover

This query is : Resolved

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Query on GST registration threshold and whether savings bank interest is included in aggregate turnover. It was clarified that service or goods turnover alone is below limit, so GST registration is not mandatory. However, debate exists on whether interest income should be included; safer view is inclusion only if linked to business activity.

pawan bahl

pawan bahl (Querist)
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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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 January 2026 Not mandatory in either case.

pawan bahl

pawan bahl (Querist)
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06 January 2026 BUT IN MY VIEW IN CASE OF SERVICES INTEREST INCOME IS INCLUDED FOR AGGREGATE TURNOVER.
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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 January 2026 Interest income from savings bank account is not included in aggregate turnover.

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pawan bahl

pawan bahl (Querist)
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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

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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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.

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