Threshold limit under gst

Others 716 views 6 replies

Sir

Interest received from Bank/Private loans will added or not, while calculating the threshold limit of Rs.20 Laksh under GST.

Kindly clarify my doubt

 

 

Replies (6)

Yes, if it is your business income!

Interest received from bank or private loan is not the part of your turnover or gross receipts whatever.

So there is no relation between threshold limit of Rs. 20 Lakhs and interest received.

Please go through a logic:- 

Can you impose GST on Interest received from bank?

No so forget about that...........

Hope you may understood..........

Sir

I am having Professional Income of Rs,15 Lakhs P.A  and Interest Income of Rs.6 Lakhs. Total Income Rs.21 Lakhs. Now  am I liable to take GST Registration and tell me the GST Liability.

Thank you

 

1) Rs. 15 Lakhs is your income or gross receipts?

2) Is it interest received from FD?

Sir

My Gross receipts during the F.Y is Rs.15 Lakhs. Interest received from Bank on FD is Rs.5. Lakhs and Private interests Rs.1 Lakh..Gross Total Income Rs.21 Lakhs. 

Thanking You Sir

 

U r not liable for gst restoration as yr grss rcpts is 15 lakhs..

no relatikn between fd interest and gst..


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