GST ON INTEREST

119 views
User Avatar

SELF EMPLYOED
211 Points Posted on 17 June 2020
whether gst will be applicable on interest on income tax refund..?
0 Reply Share Follow
On 17 June 2020 at 12:01 Report
Replies (2)
Quick Summary
This discussion clarifies that Goods and Services Tax (GST) is not applicable to the interest received on income tax refunds. While you won't pay GST on this interest, it is still considered taxable income. You must declare this interest income in your Income Tax Return (ITR) under the 'Income from Other Sources' category and pay the relevant income tax on it.

User Avatar

Designation
771 Points Posted on 17 June 2020
No. gst is not applicable on interest income
1 Reply
On 17 June 2020 at 13:06
User Avatar

Student
23693 Points Posted on 17 June 2020
No....

GST is not applicable on Interest on Income Tax Refund. However you have to disclose this Interest Income in your ITR under the head Income from Other Sources and pay tax accordingly.
Reply
On 17 June 2020 at 17:10

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Income tax act 2026
  2. Belated Return where Form 10IEA filed this year to
  3. GST Reconciliation Tool (2A vs Books) - looking fo
  4. TDS ON PF FORM 19 WITHDRAWAL
  5. Can a virtual office in Mumbai be used for company
  6. Eway and e invoicing in condition where 4 party ar
  7. Bank balance in ITR-3
  8. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  9. Tempsens Instruments IPO GMP Allotment Listing dat
  10. Upload Type - Correction. Not showing in TDS filli

More recent discussions | Post

Related Topics :

Loading