Interest income is part of aggregate turnover but not taxable under GST

• August 13, 2020
• CA Chandan Agarwal's Office

Under the GST regime, assessees are required to obtain registration under the GST law based on their aggregate turnover. There is a threshold exemption provided to all taxpayers (suppliers of goods and services). If the aggregate turnover exceeds such threshold limit, registration under GST is mandatory.

Controversy over what to be included in aggregate turnover for GST

Recently an issue came up before Authority for Advance Ruling (AAR), Gujarat in Re: Shree Sawai Manoharlal Rathi (2020) 6 TMI 449; (2020) 117 taxmann.com 497 (AAR, Gujarat).

Read more on: https://taxguru.in/goods-and-service-tax/interest-income-part-aggregate-turnover-taxable-gst.html