AGGREGATE TURNOVER AND REGISTRATION

[KESHAV GROVER]

IF A PERSON IS EARNING INTEREST (ON FDR) FROM BANK OF RS.15.00 LAKHS AND GETTING RENT OF RS.6.00 LAKHS. THEN HIS AGGREGATE TURNOVER BECOMES 21.00 LAKHS. WHETHER HE IS LIABLE TO REGISTER FOR GST AND LIABLE TO GET REGISTERED UNDER GST?

AI Summary

Individual with Rs. 21 lakhs turnover must register for GST; Finance Act 2019 threshold change not notified yet. A discussion on a forum addressed whether an individual earning Rs. 15 lakhs in bank interest and Rs. 6 lakhs in rent, totaling an aggregate turnover of Rs. 21 lakhs, must register for GST. One participant confirmed the need for registration, citing the definition of 'aggregate turnover' in the CGST Act, which includes exempted services. Another referenced Section 94 of the Finance Act 2019, noting potential turnover threshold changes, but clarified that no notification has been issued yet to increase the threshold beyond Rs. 20 lakhs.