https://www.taxtmi.com/forum/issue?id=114895 Rule 43 Explanation 1 excludes from the aggregate value of exempt supplies services by way of accepting deposits or extending loans or advances insofar as the consideration is interest or discount, except for banking companies and financial institutions; accordingly, interest on fixed deposits received by a non-bank taxpayer is not included in aggregate turnover for statutory audit thresholds and does not trigger reversal of proportionate input tax credit. en-us Sat, 20 Apr 2019 07:17:51 +0530 Thu, 23 Jan 2025 15:55:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114895 Rule 43 Explanation 1 excludes from the aggregate value of exempt supplies services by way of accepting deposits or extending loans or advances insofar as the consideration is interest or discount, except for banking companies and financial institutions; accordingly, interest on fixed deposits received by a non-bank taxpayer is not included in aggregate turnover for statutory audit thresholds and does not trigger reversal of proportionate input tax credit. Discussion-Forum GST Sat, 20 Apr 2019 07:17:51 +0530 https://www.taxtmi.com/forum/issue?id=114895