Bank Interest Income...

Quick Summary
This discussion clarifies whether interest earned from savings accounts or fixed deposits counts towards the aggregate turnover for GST registration purposes. While interest income is generally considered an exempt supply of services, it must be included when calculating the aggregate turnover for determining GST registration thresholds. However, if a person deals exclusively in goods and their total aggregate turnover, including interest income, does not exceed £40 lakh, they may not require GST registration.

IN my opinion it's supply of Services which is Exempted. (As per Notification 12/2017 CT (R) )

As per the Defination of Services u/s 2(102) of CGST Act : means anything other than goods, money & securities but ACTIVITIES RELATING TO USE OF MONEY ............
Bank pay Interest in lieu of Deposit.
Customer keeps money by depositing in bank & receiving Interest for that.
@ Finn Walsh, kindly try to avoid these type of posts in this forum. This is not the correct forum to post all these advertisement.
Moreover it's being already prescribed in Notification 12/2017 CT (R) , that it's supply of Services which is Exempted.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details