In GST audit weather we have to consider interest income in aggregate turnover?
weather we are required to report it in Form 9 table 5?
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 19 January 2020
Yes... If the income into the same Pan / gstin.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 19 January 2020
Yes as such income is Exempted in GST (Noti.12/2017 CT r) but as per the Definition of Aggregate Turnover it includes Exempted incomes.
Note : Interest income does include to compute turnover in case of Composition dealer (Notification 1/2020 CT)
Note : Interest income does include to compute turnover in case of Composition dealer (Notification 1/2020 CT)
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