Interest income from SB & FD's shall include in GST Turnover under Exemption category while filing GSTR1?
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Quick Summary
This discussion clarifies whether interest income earned from Savings Bank (SB) accounts and Fixed Deposits (FDs) should be included in your GST turnover. The consensus is that this type of interest income is not considered a supply under GST regulations. Therefore, it does not need to be included in your GST turnover calculation for GSTR1 filings and is primarily relevant for income tax purposes.