Saving Bank Interest to be considered for calculating GST threshold limit

Interest received on PPF/ Personal Loans/Saving Bank to be considered for calculating GST threshold limit THE AUTHORITY FOR ADVANCE RULING T

Reetu

Jun 20, 2020

Last update on Jun 20, 2020

Interest received on PPF/ Personal Loans/Saving Bank to be considered for calculating GST threshold limit

THE AUTHORITY FOR ADVANCE RULING

The Questions and Ruling as follows: Ques.1: Whether Interest received in form of PPF would be considered for the purpose of calculating the threshold limit of Rs.20.00 Lakh for registration under GST Law? Answer: Answered in the Affirmative, as discussed above. Ques. 2: Whether Interest received on Personal Loans and Advanced to family/friends would be considered for the purpose of calculating the threshold limit of Rs.20.00 Lakh for registration under GST Law? Answer:Answered in the Affirmative, as discussed above. Ques. 3: Whether Interest received on Saving Bank Account would be considered for the purpose of calculating the threshold limit of Rs.20.00 Lakh for registration under GST Law? Answer: Answered in the Affirmative, as discussed above. Read Order Tags : Judgement, GST, Advance Ruling

About Author

Reetu

Content Manager

Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.