GSTR-9 TREATMENT OF INTEREST ON FDR

[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.

[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).

AI Summary

Interest on FDR treated as turnover when business-related; include in GSTR 9C; exclude if not business-related. Interest on an FDR forms part of turnover and must be reported in Form 9C when the interest arises from receipts related to the business (whether taxable or exempt). If the FDR interest is not related to the business under GST, it is not part of turnover and need not be shown in Form 9C.