Interest on FD

No... It's not a Supply...
No need to Show it anywhere in GST returns.

Thank you sir

You are welcome

May I have your whatsapp number sir. Need to show you something regarding my query.

As per section 2(102) cgst act

"SERVICES" MEANS ANYTHING OTHER THAN GOODS, MONEY & SECURITIES BUT, INCLUDES ACTIVITIES RELATING TO THE USE OF MONEY OR ITS CONVERSATION BY CASH OR BY ANY OTHER MODE FROM OR FORM CURRENCY OR DENOMINATION TO ANOTHER FORM CURRENCY OR DENOMINATION FOR SEPRATE CONSIDERATION IS CHARGED
Its exempted by Notification 12/2017( CT (R)
As Per SECTION 2(6) CGST, AGGREGATE TURNOVER DEFINATION (WHICH INCLUDES EXEMPTED SUPPLY)


So ts cover under exempted supplies

This is not Supply....

As service supplied to Bank (i.e Money) and in consideration we have recd. Interest so it should be exempt supply

Here who is the Supplier...?!

when the money is given to bank , bank is the recepient, & when the interest is given by bank bank is the supplier

okay bro enjoy...

CBEC vide Order No. 01/2017-Central Tax dated
13th October, 2017 has clarified that a person
supplying any exempt services including services
by way of extending deposits, loans or advances in
so far as the consideration is represented by way of
interest or discount, shall not be ineligible for the
composition scheme. In computing his aggregate
turnover in order to determine his eligibility for
composition scheme, value of supply of the exempt
services including services by way of extending
deposits, loans or advances shall not be taken into
account.

So As Above notification interest is  added to get aggregate turnover.

https://www.quora.com/in/Is-GST-applicable-on-interest-in-bank-FDs-also

 

https://www.axisbank.com/progress-with-us/invest/how-will-gst-affect-your-investments

The above said notifications applicable who can act a Finance company or Money lender or any others...

It's not affected in Banks and POs FD Interests and SB interest....