Interest on loans
This query is : Resolved
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
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
24 May 2019
Yes interest forms part of aggregate turnover
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