GSTR 9C

whether to show bank interest which is grouped in other income in gstr 9 5 d. or in table 5 O of 9c. kindly advice
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Quick Summary
This discussion clarifies the correct reporting of bank interest in GSTR-9 and GSTR-9C. Bank interest, being an exempt supply, should be reported under 'Exempt Supplies' in GSTR-9 (Table 5F) and not as outward supply. For GSTR-9C, it should be included in the reconciliation of gross turnover under 'Other Income / Exempt Income' or 'Other Adjustments', as it forms part of the overall turnover definition.

  • Bank interest is an exempt supply under GST.

  • It should NOT be reported in GSTR-9 Table 5(d).

  • It should be reported in GSTR-9 Table 5(F) – Exempt Supplies.

  • In GSTR-9C, bank interest must be disclosed in Table 5 (Reconciliation of Gross Turnover) under “Other Income / Exempt Income”, and not in Table 9 (Tax Paid Reconciliation).

Bank Interest is not outward supply from the company is point of which is not engaged in the banking sector. Therefore, no such transactions to be reported in the GSTR-9. While filing GSTR-9C, it should be reported in the 5-O "Other Adjustements" as the definition of Turnover as per GSTR-9C includes normal turnover plus other income.

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