Interest is calculate for aggregate turnover
This query is : Resolved
02 May 2019
Whether the Interest is calculated while calculating aggregate turnover for basic exemption 20 lakhs
02 May 2019
Yes
The term “aggregate turnover” as defined in sec. 2(6) includes value of all exempt supplies as well. Thus, while there is no GST on interest on loans, but the same is still captured in while computing aggregate turnover.
The term “aggregate turnover” as defined in sec. 2(6) includes value of all exempt supplies as well. Thus, while there is no GST on interest on loans, but the same is still captured in while computing aggregate turnover.
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