If Bank Interest and Rent Income are part of Turnover for GST Threshold limit of 20/10 lacs ?
Vijayprakash P
(1313 Points)
Replied 14 July 2020
Amit
(CA Practice )
(107 Points)
Replied 15 July 2020
Sir,
Please specify about bank Interst Income and Rent Income from Residential Property when both are not part of business/profession.
Example :
Saving A/C Interest 1 lac
Bank Term Deposit Interest 15 lac
Rent of Residetial House 3 lac
Rent From Commercial Shop 2 lac
Total 21 lac
If the registration of GST is required in the abovementioned case ? And if yes how much GST is payable ?
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 18 July 2020
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