banner_ad

Fixed Deposit interst income - GST Applicable

Accounts 973 views 4 replies

Dear Sir.

 Greetings.  I am Muthaiah Jeyachandran From Tamilnadu.  I have a query. My firm have many Fixed Deposits with Bank. Every year bank pays our Firm Interest For Fixed Deposit.  The FD Interest Calculated as a Indirect Income.  in this, While Auditing GSTR-9, 9C For Fy : 2020-21, The Audit Executive Says,  The Fixed Deposit Interest is also GST Applicable.   If its Correcet how do for Last Year Interest GST in Current Year.

Please any one clear the issue.

Thanking You,

Muthaiah Jeyachandran.

 

Replies (4)
No gst applicable on fd
As per Notification No.12/2017 dated 28.06.2017 deposits, loans or advances in so far as the consideration is represented by way of interest or discount is exempted.

Dear Vikas Saini,

 

   Thanks a Lot for your kind Reply.

VIKAS SAINI

Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=579183&offset=0Vikas

Dear Mr. Pratic Datta,

  Thanks for your resposne. Just now downloaded the Notification. Thanks

 

 

Pratick Datta Pratick Datta

Read more at: https://www.caclubindia.com/forum/fixed-deposit-interst-income-gst-applicable-579183.asp?offset=1Pra


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details