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

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

Disclosure of interest and dividend in GST annual returns may affect exempted supplies classification and reconciliation adjustments.
The document records divergent practitioner views on disclosing interest, dividends, discounts and profit on sale of assets in GST annual returns: some advise no disclosure in GSTR 9, others recommend declaring such receipts as exempted supplies (Table 5/5D) and reflecting them in GSTR 9C, while several suggest recording them as reconciliation adjustments in GSTR 9C to avoid input tax credit reversal and reconciliation variances between financial statements and GST returns.