REGISTRATION UNDER GST

[PANKAJ CHUGH]

KINDLY ADVISE,

WHERE A PROFESSIONAL HAS PROFESSIONAL INCOME OF RS 17 LAC AND EXEMPT INCOME (INTEREST FROM BANK) OF RS 4 LAC IN A FINANCIAL YEAR, WHETHER HE IS REQUIRED TO GET HIMSELF REGISTERED UNDER GST ?

THANKS IN ADVANCE

AI Summary

Professional Earning 17 Lakh with 4 Lakh Bank Interest Must Consider GST Registration per Section 22(1) CGST Act A professional with a professional income of 17 lakh and exempt income of 4 lakh from bank interest inquires about the necessity of GST registration. It is clarified that if the interest income is related to professional activities, registration under GST is required as per Section 22(1) of the CGST Act. The definition of 'aggregate turnover' includes exempt supplies, suggesting the professional should register since the total turnover is 21 lakh. If the bank interest is from personal savings, it should not be included in the professional income for GST registration purposes.