TaxTMI 
TaxTMI 
INTEREST ON FDR
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....NTEREST ON FDR<br> Query (Issue) Started By: - Manali Sharma Dated:- 14-8-2019 Last Reply Date:- 19-8-2019 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>If a person has RENTAL INCOME and has....
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.... INTEREST INCOME ON FDR, whether it will be included in GST ANNUAL RETURN and if YES then what will be the TREATMENT for that? Reply By Ganeshan Kalyani: The Reply: Whether the FDR is in connection ....
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....with the business? Reply By KASTURI SETHI: The Reply: If FDR pertains to non-business, interest is not to be shown. Pl. note that if any transaction is 'NOT supply ' as per definition of CGS....
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....T Act the department has nothing to do with this. The column 'non-GST supply' has been created in the Annual Return for examination whether the party is right or not in this aspect. Whether tr....
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....ansaction actually falls in the category of Non-GST supply ? Non-GST supply has no impact on GST. The taxer payers are committing Himalayan blunders by treating taxable/exempted supply as Non-GST supp....
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....ly. So one has to be ultra-cautious. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Your query is not complete. If the rental income is in the furtherance of business it will be included in the GST ....
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....Annual Return. Interest income on FDR is not required.<br> Discussion Forum - Knowledge Sharing ....