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Interest on PPF, savings to be used for calculating GST registration: AAR

The individual, in his application, had disclosed that his total receipts in 2018-19 fiscal were about Rs 20.12 lakh, including rent receipt of Rs 9.84 lakh

GST, TAX
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Press Trust of India
The value of exempted income, like interest on PPF, savings bank account and loans given to family/friends, will be included along with taxable supplies while calculating the threshold limit for obtaining GST registration, the Authority for Advance Ruling (AAR) has said.

Under the Goods and Services Tax law, businesses and individuals are required to obtain GST registration if their aggregate turnover is Rs 20 lakh or more.

An individual, not engaged in any business, had filed an application before the Gujarat bench of AAR asking whether interest received from savings bank, PPF and loans and advances to family would be

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First Published: Jun 18 2020 | 8:05 PM IST

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