Inclusion of Interest Income in FORM GSTR 9

[Pradeep Singhi]

Respected Sir,

Do we need to include interest income in total turnover in FORM GSTR-9 (Annual Return)?

AI Summary

Should Interest Income Be Included in FORM GSTR-9 Turnover? Clarifications and Exemptions Under Notification 12/2017-CGST(R). A query was raised about whether interest income should be included in the total turnover in FORM GSTR-9, the annual return for Goods and Services Tax (GST). One response indicated that if the interest is part of business activities or taxable value, it should be included in the outward supply value; otherwise, it should be shown as 'exempt supply'. Another response questioned the nature of the interest income. The original inquirer referred to exemption notification 12/2017-CGST(R), suggesting that interest from deposits may be exempt.