Exempt Income is part of Total Turnover

Hi Kunal,
Total income as per P&L shall be reported in Table 5A of GSTR 9C.
Thanks,
Bhavana K L Chartered Acccountant

9C is not applicable to us because turnover is below 5 CR. I wanted to know whether we should consider other income like capital gain on shares & mutual funds, dividend, maturity amount of insurance policies etc. in total turnover to file GSTR 9. We have only supply 6lakh service to clients in F.Y.2021-22. Other income of Rs.1.23 Cr. are earned as capital gain on trading of Shares and mutual fund. So do we need to file GSTR 9?

Hi Kunal,

If your aggregate turnover is less than or equal to 2crores then It is optional to file GSTR 9 for FY 2021 - 22. Please note that aggregate turnover includes Exempt supplies.

Hope this clarifies, if any further clarification required then please write mail at Bhavana @ lbkca.in.

Thanks
Bhavana K L
Chartered Accountant

Sale of shares and mutual fund is not a supply of goods or sevices. So it is classified as not being supply and therefore does not form part of turnover.
Only for calculation of reversal of ITC the value is taken as 1% of sale value. Therefore its value is taken only for reversal of ITC and will not form part of turnover in general for GST purposes.

1. is trading activity the only activity.
2. disclosure not required in gst filing but in itr.
3
if gst registration is taken then it's OK.