TaxTMI 
TaxTMI 
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
REGISTRATION UNDER GST
18 Apr 2020 
5 Replies 
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Aggregate turnover: include business-related exempt interest when testing GST registration threshold and filing obligation.
A professional must include exempt receipts such as bank interest in aggregate turnover for GST registration only if those receipts arise from accounts or deposits maintained for or incidental to the profession; personal savings interest unrelated to the profession is excluded. Where business-related exempt income is includible, the computed aggregate turnover must be tested against the registration threshold and the professional must apply for registration within the prescribed period after crossing that threshold. (AI Summary)
A professional must include exempt receipts such as bank interest in aggregate turnover for GST registration only if those receipts arise from accounts or deposits maintained for or incidental to the profession; personal savings interest unrelated to the profession is excluded. Where business-related exempt income is includible, the computed aggregate turnover must be tested against the registration threshold and the professional must apply for registration within the prescribed period after crossing that threshold. (AI Summary)