Question ID :
44946
Seeking your expert view on GST return disclosure of FD interest income
With due respect, my understanding is that FD interest is exempt under Entry 27(a) of Notif. 12/2017-CT (Rate), but the bank is the supplier of the service, and the depositor is only the recipient. Since the depositor does not make any outward supply as per Sections 7 and 2(83), and no invoice is issued (Rule 46), I do not advise reporting the same in GSTR-1/3B/9. CBIC Circular 12/12/2017-GST appears relevant only for aggregate turnover threshold under Section 2(6).
I would appreciate your thoughts on whether GST returns, being transaction-based, can require reporting of such receipts.
Posted by
NEHA KOTHARI
on
Dec 24, 2025
Filed Under
GST