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Interest on unsecured loans

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17 April 2019 Dear Experts,

One of my friend having below income in f.y. 18-19 :-
1) Salary recd. - Rs. 12,56,560/-
2) Commission recd. - Rs. 1,12,500/-
3) Interest recd. on Unsecured Loans - Rs. 8,42,400/-
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Total : Rs. 22,11,460/-
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1) Whether he require to take GST Registration?
2) Whether he issue any invoice for commission & interest.
3) While calculating aggregate turnover should he add Interest, commission & salary
or only commission & interest.

Please advise

Rakesh Sharma

17 April 2019 Interest and salary outside the purview of GST.
1 No need of GST registration.
2 Invoice can be issued.

19 April 2019 Thanks a lot sir for your valuable reply




19 April 2019 You are welcome..............

19 April 2019 Sir, if interest on unsecured loan amount & commission received amount crossed the threshold limit for mandatory GST Registration.
Should we take interest amount for calculating the aggregate turnover.

20 April 2019 Interest need not be taken for aggregate turnover.



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