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Reg. income from pawn brokers interest in gst
my client have registered under gst as the trading in jewellery, and also pawn brokers, what was the gst rate in pawn brokers interest income
Replies (1)
Summary for your records:
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Interest Income: Exempt from GST (0%).
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Processing/Documentation Fees: Taxable at 18% GST.
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Registration Threshold: Your interest income (exempt supply) must be included in your total turnover to determine if you need to register for GST. If your total turnover (taxable + exempt) exceeds the prescribed threshold, you must obtain a GST registration.
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