A person has a garment shop for which he use to pay GST, by side he also deal in jute which is exempted from gst and Income from jute he doesnot reflect in GST. NOw my question is at the time of Filling ITR total Turnover of the garment +Turnover of jute can be show or turnover of jute has to be shown in other income as Turnover is not reflect in GST.
29 April 2018
GST registered person show his all business income under his GSTIN...
So, He will prepare Invoice/BOS for the Jute sale and It will be include in GST...
29 April 2018
Dear Ashim GST is the new regime of indirect taxation. There are Four types of sales in GST. One is Taxable Item, second is Zero rated Item, third is Exempted Item and fourth is Non GST Item sale and all types of sales has to be declared in GST Return. You are dealing in Garments (Taxable Commodity) as well as Tax Exempted Commodity JUTE. Because you are a registered person under GST you have to issue tax invoice for both types of sales that is for taxable and exempted item sale and for taxable items you will charge GST in invoice and for Exempted no GST will be charged and both types of sales you will declare in GSTR. You are right that for JUTE sales you have not charge GST in invoice. If you have not declared exempted sales of Jute in GSTR and only taxable sale of garments has been shown in GSTR then its a blunder mistake at your end. From the financial year 2017-2018 all details of GST has to be declared in ITR compulsorily irrespective of taxable or non taxable. Now only one remedy is available to you that you declare your full taxable as well as exempted turnover in Annual Return of GST ( as there is no provision at present in GST to revise or modify GSTR) and also declare total turnover in Income Tax otherwise you will be trouble. For more clarifications you may call me at 9899390850.
29 April 2018
Yes... As per GST JUTE is exempted...
But, It will shown under GSTR 1 return also You must sale it in your Invoice and It's shown your turn over...
If You are not sale the Jute in Invoice or BOS then can't show it in Your business income. Also it's wrong activities...
Go to Sale with Invoice or BOS. And Show it in Your GSTR 1 return...
GOOD LUCK...
One more thing as GST started from july 1st and before that all product has been bought and sold with out bill.So for the month of April to 30th jun 2017 can i take the assumption sell.
30 April 2018
When you have bought the goods without bill and sold also without bill then how can you take those transections in your books of account? Without bill purchase and sale transactions are out of books transactions which you can call 2 number transactions or black so you can't take benefit of those transactions untill you arrange purchase and sale bills for those transactions.
CAclubindia
