TaxTMI 
TaxTMI 
Hi
Interest earned on Fixed Deposit/SB by the Assessee whether it can be considered for calculation of Aggregate T/o as per section 2(6) of CGST Act ?
please quote the applicable notification if available
Thq u in advance
calculation of aggregate T/o
03 Feb 2020 
1 Reply 
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Aggregate turnover includes exempt and non taxable receipts, so interest income counts for GST threshold calculations.
Interest income is includible in aggregate turnover because aggregate turnover comprises taxable supplies, exempt supplies (including non taxable supplies), exports and inter State supplies on an all India basis; it excludes central/State/UT/integrated taxes and cess and inward supplies on which the recipient pays tax under the reverse charge mechanism. Aggregate turnover determines registration and composition eligibility, while composition levy is calculated on State turnover. (AI Summary)
Interest income is includible in aggregate turnover because aggregate turnover comprises taxable supplies, exempt supplies (including non taxable supplies), exports and inter State supplies on an all India basis; it excludes central/State/UT/integrated taxes and cess and inward supplies on which the recipient pays tax under the reverse charge mechanism. Aggregate turnover determines registration and composition eligibility, while composition levy is calculated on State turnover. (AI Summary)