GST turnover related query
Ajnas (Student) (844 Points)
24 August 2020
Interest on income tax refund is included in aggregate turnover calculation?
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 24 August 2020
No ,
Confirm with others also .
Chahat Bansal
(226 Points)
Replied 24 August 2020
No interest on IT refund is not included in turnover as per sec 2(6) of CGST act, 2017.
However if you have received any interest on any kind of deposit with bank then it will be included in aggregate turnover.
However if you have received any interest on any kind of deposit with bank then it will be included in aggregate turnover.
Taha
(T)
(405 Points)
Replied 24 August 2020
As per gujrat aar interest on ppf saving banks is included in ATO but interest on income tax refund is not taxable confirm with others
Recent Topics
- Response to defective return notice in case of 139
- Capital loss for surcharge purchase?
- RCM on certain expenses under Sec.9(3) and 9(4)
- CPA to Company Registration Services for USA
- RCM RELATED TOPIC
- 194C TDS ON CONTRACTOR
- Capital gains on sale of TDR
- Cash ledger refund
- Interest free loans from directors in private limi
- Section 194T
Related Threads
CAclubindia
