Interest on Income earned through mutual funds return

This query is : Resolved 

07 November 2019 We are partnership firm doing business of retailing and registered in GST, we invest our surplus capital in mutual fund liquid funds and earn interest / income from the same.
Is their any GST liability on income earned through above mentioned liquid fund. Please let me know under which clause is this income exempt. (If its exempt) or what is GST liability on it.(in any)

15 November 2019 Interest income does not attract GST because it is an input taxed sale
But Receipt of Interest income is your Income under the head “Income from other sources” on which you shall be required to pay Income tax if you come in the ambit.

15 November 2019 Thanks for the reply, but would interest income be added in our turnover and hence we have to leave proportionate GST ITC.




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