Turnover

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23 September 2019 How to compute the Turnover of Banks/Banking company?

CA S K MISHRA

CA S K MISHRA (Expert)
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23 September 2019 Turnover of Banking companies includes taxable supply, exempt supply & Nil rated supply. Exempt supply includes Interest / Discount earned or paid for Loans, Deposits or Advances etc. Taxable supply includes Service charges for making drafts, issuance charges for letter of credit, Bank Guarantee Commission Charges, Processing Fees on Loans, Documentation Charges, Ledger Folio Charges, Bank Statement Charges, Inspection & Survey Charges, Interest on credit card, any upfront or regular charges such as Processing Fees, Documentation Charges, Service Charges, Collection Charges, Inspection Charges, Repossession charges, Foreclosure or Prepayment charges etc.

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