https://www.taxtmi.com/article/detailed?id=9370 Whether interest income is included in aggregate turnover is contested. One view treats interest as an exempt supply that must be aggregated because aggregate turnover expressly includes exempt supplies and administrative rulings have so held. The opposing view contends interest receipts are not a supply-money is excluded from goods, services excludes money, and depositing money for interest lacks furtherance of business-so interest should not form part of aggregate turnover absent legislative clarification. en-us Wed, 22 Jul 2020 08:46:16 +0530 Wed, 22 Jul 2020 08:46:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9370 Whether interest income is included in aggregate turnover is contested. One view treats interest as an exempt supply that must be aggregated because aggregate turnover expressly includes exempt supplies and administrative rulings have so held. The opposing view contends interest receipts are not a supply-money is excluded from goods, services excludes money, and depositing money for interest lacks furtherance of business-so interest should not form part of aggregate turnover absent legislative clarification. Articles Goods and Services Tax - GST Wed, 22 Jul 2020 08:46:16 +0530 https://www.taxtmi.com/article/detailed?id=9370