Sir/Mam,
Does Interest received on fixed deposit added for calculating Aggregate turnover?
If so, on whose aggregate turnover it should be added? In the turnover of bank or recipient?
However interest payment is exempt supply for banking companies, then why should it be added to recipient?
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2020
No... It's not including in the aggregate turn over.
Kundan Hiralal Rawal
(---)
(49 Points)
Replied 09 March 2020
It will we concider in ATO as defination it self says all supply of good and services or both
it includes exempt supply even go further it includes non taxable supply also
Only it does not includea is Sch III transaction
it added in cutomer ATO and
if he is composite supply then it will be not added in Turnover concept
it includes exempt supply even go further it includes non taxable supply also
Only it does not includea is Sch III transaction
it added in cutomer ATO and
if he is composite supply then it will be not added in Turnover concept
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