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TaxReply India Pvt Ltd

Shree Sawai Manoharlal Rathi
(Authority for Advance Ruling, Gujrat)

Hon'ble Judges:

SANJAY SAXENA
MOHIT AGRAWAL
Pet. Counsel
Hartik Vora
Sushil Kabra
Res. Counsel
Na

Petitioner / Applicant

Shree Sawai Manoharlal Rathi
Respondent NA
Court

AAR (Authority for Advance Ruling)

State

Gujrat

Date Apr 19, 2020
Order No.

GUJ/GAAR/R/2020/10

Citation

2020(4) TAXREPLY 2493
Original Order
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ORDER

BRIEF FACTS The applicant has submitted that he is an individual having not engaged in any business. His receipts are only from savings, personal loans and advances and deposits, which are reflected in the Income Tax Returns. 2. The applicant has further submitted that his estimated receipts for the F.Y. 2018-19 is likely to be totally Rs.20,12,000/-, which includes,(i) Rent receipts: Rs.9,84,000/-, (ii) Bank interest: Rs.3,000/-, (iii) Interest on PPF deposit:Rs.2,76,000/- and (iv) Interest on Personal Loans and Advances: Rs.7,49,000/-. 3. The applicant further submitted that their interpretation of law is that if interest is received on loans and advances, deposits and savings Bank account by an individual person, who is not engaged in any such business and who is not a money lender, then such Interest Receipts is not a Supply and does not attracts GST, as the same is neither “In the course of Business” nor “In the furtherance of Business”. ....

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