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student
36 Points Posted on 15 March 2020
Is interest income to be considered while calculating aggregate turnover for GST registration.
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On 15 March 2020 at 14:17 Report
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This discussion clarifies whether interest income should be included when calculating aggregate turnover for GST registration purposes. Generally, aggregate turnover includes all supplies (taxable, exempt, non-taxable, and zero-rated). However, for determining eligibility for the composition scheme, interest income is specifically excluded as per Order No. 1/2017.

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32 Points Posted on 15 March 2020
Yes, Aggregate turnover include all types of supply including taxable, exempt, non taxable, zero rated supply
but for calculation of ATO under composition scheme registration it is not included.
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On 15 March 2020 at 15:37
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student
36 Points Posted on 15 March 2020
Thank you
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On 15 March 2020 at 15:39
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Chartered Accountant
12739 Points Posted on 15 March 2020

AGREED with naveen d !

As per Order No. 1/2017 dated 13.10.2017 Interest Received shall not be taken into account while calculating Aggregate T/O in order to determine eligibility for composition scheme . 

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On 15 March 2020 at 16:32

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