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Turnover or Sales definition as per IT Act

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12 December 2019 Whether GST Output paid on sales is includable in Turnover calculation as per income tax act? sales in profit and loss account is including GST or excluding GST?

12 December 2019 1. Yes... 2. No... Not in PandL.

13 December 2019 For calculating Turnover : GST paid on sales is : INCLUDED- As per Income Tax.
While Preparing Profit and Loss account: Sales Amount are always without GST.






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