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GST - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Computation of aggregate turnover for the purpose of GST ...


Interest Income Must Be Included in GST Aggregate Turnover; Partner's Salary Excluded, Non-Executive Director's Salary Included.

May 9, 2020

Case Laws     GST     AAR

Computation of aggregate turnover for the purpose of GST registration - Interest income, though exempted, are to be included in the aggregate turnover - Partner’s salary, received as partner, from applicant’s partnership firm is not to be included - Salary received as non-executive Director from a Private Limited Company is to be included even if GST is paid on RCM by the company - Maturity amount of LIC, dividend on shares etc. not to be included.

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