Poonawalla fincorp
Poonawalla fincorp

Interest on loans

This query is : Resolved 
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(Querist)
24 May 2019 Dear Sir,

I am a Director given loans to the company and received Interest of Rs. 5.20 Lacs in f.y. 2018-19.

Also, I have received a commission from another company of Rs. 15.85 Lacs in f.y. 2018-19.

Should Interest amount be taken for calculating Aggregate Turnover? or out of GST ambit.

Please guide me.

Rakesh Sharma
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
24 May 2019 Yes interest forms part of aggregate turnover

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