CA Munmun singhal asked 6 years ago
annual return
Assessee is registered under GST DUE TO RENTAL INCOME. he also has salary income and interest on FDs /PPF /saving bank accounts.
Whether we have to report interest income and salary income under no supply
Answer the question1 Answers
ConsultEase Administrator answered 6 years ago
This is a change in the form of annual return. Now you are also required to report the no supply. What is no supply? Transactions which are not fulfiling the criteria of supply or which are covered by schedule III of CGST Act. Transactions falling in any of this criteria will also be required to be reported in the annual return.
Yes, you will have to show the salary in no supply. How far interest is concerned it is an exempted supply because it is covered by notification no. 12/2017 CTR. It will be shown in exempt supply.
