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GST ON FD INTEREST
1. Whether GST ON FD INTEREST is liable for payment of GST ?2. Whether GST ON FD INTEREST is to consider for gross turnover for GST Registration?
Replies (2)
1. No.
2. No, unless the FDs are made through business funds.
1. No. .... Exempted As per Notification 12/2017 CT (R)
2. As per the Defination of Aggregate Turnover in term of section 2(6) includes exempted supply. hence FD income includes in computing Aggregate Turnover
2. As per the Defination of Aggregate Turnover in term of section 2(6) includes exempted supply. hence FD income includes in computing Aggregate Turnover
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