GSTR-9 TREATMENT OF INTEREST ON FDR, Goods and Services Tax - GST

[KESHAV GROVER]

WHETHER INTEREST RECEIVED ON FDR WILL BECOME PART OF TURNOVER? IF YES THEN WHETHER IT WILL BECOME PART OF THE FORM 9C AS DIFFERENCE IN TURNOVER.

Posts / Replies

[KASTURI SETHI]

If interest on FDR is earned on account of taxable business, it will form the part of GSTR 9C.

[KASTURI SETHI]

If FDR is not related to business under GST, interest will not form part of turnover and not required to be shown in GSTR 9 C. If FDR is related to business under GST whether exempted or taxable business it will form part of turnover and, in turn, will become part of Form 9C (Annual Return).