GST on Partners Remuneration and Interest

[Krishna Murthy]

Sir, is GST applicable on amount received by partners from the partnership firm as Remuneration and Interest. Whether the same fall under the definition of 'supply' under GST? If yes whether the same are exempt supplies?

AI Summary

GST on partners' remuneration and interest: whether these payments constitute taxable supply or fall outside aggregate turnover.
Whether GST applies to partners' remuneration and interest is contested: some treat these receipts as transactions in money or as self-supply, excluding them from taxable supply and aggregate turnover, while others note neither is listed in Schedule III as a non-supply and that treatment depends on the agreement and advance rulings or case law.