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
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.
Tags : Judgement, GST, Advance Ruling