INCLUSION OF INTEREST INCOME & DIVIDEND IN GST ANNUAL RETURN

[VEMULA CHANDRASEKHAR]

Does an Assessee required to disclose interest received on fixed deposits, sweep account, dividend on mutual funds, discount received, profit on the sale of assets in GST ANNUAL RETURN? If yes there in which column we should disclose in GSTR-9 & 9C?

[DR.MARIAPPAN GOVINDARAJAN]

In my view not required

[Guest]

Yes. They have to be declared in Annual return. Interest income to be disclosed in Table 5D of GSTR 9. Similarly rest of them have to be seen case to case basis

[PAWAN KUMAR]

Dear sir,

As per my view, no need to show in annual return, but to show in GSTR-9C.

[Atul Rathod]

Required to show in GSTR-9 as exempted supply (table 5)

Show the same as exempted supply in GSTR-9C as well.

Further there would be difference in reconciliation due to profit on sale of fixed asset as in Financial statement there would be profit whereas in GST Return it would be sale value if the asset is not motor vehicle.

Suggested to disclose.

[PAWAN KUMAR]

Dear Sir,

As per my view, you are not in business of any extending deposits, loans etc. the interest which is receiving to you are your income. as per my view you need to include the details in GSTR-9C other adjustment and not in exempted supplies under GSTR-9, because if you will declare it your deemed exempted supplies, itc reversal requirement would be there.

AI Summary

Should Interest and Dividends Be Reported in GSTR-9 and 9C? Differing Views on GST Annual Returns. A discussion on whether interest income, dividends, and other financial gains should be included in the GST Annual Return, specifically in GSTR-9 and 9C. Opinions vary: one view suggests no disclosure is needed, while another advises declaring interest income in Table 5D of GSTR-9 and other items on a case-by-case basis. Some suggest reporting as exempt supplies in GSTR-9 and GSTR-9C, noting reconciliation differences due to asset sales. The consensus leans towards including these details in GSTR-9C, with caution against declaring them as exempt supplies to avoid ITC reversal requirements.