| Originally posted by : nitish | ||
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for the purpose of gst we are maintaining account without making account how we can file gst return |  |
It's mean before GST who is opt u/s 44AD they all are not under any IDT....?
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
RAJA P M
("Do the Right Thing...!!!")
(127495 Points)
Replied 27 June 2018
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
Sunil
(Trader)
(2611 Points)
Replied 10 December 2018
Sundararajan S
(Final Student of ICAI)
(1764 Points)
Replied 10 December 2018
Simply because of opting for presumptive taxation it doesn't mean that the particular assessee cannot produce the bifurcation between taxable value and tax collected. It just means that the assessee doesn't maintain complete set of books of accounts as done by others who are required to get their books audited or that he has opted 44AD. And the production of such bifurcation will not violate 44AD. There are number of CA offices where books are prepared and return filed under 44AD. 44AD is an option. That's it. Eventhough you maintain complete set of books of accounts, you are eligible to opt 44AD. There is no restriction on opting 44AD when books are maintained. Please find attached the bare section. It never says if you maintain books or produce bifurcation you will be denied opting 44AD.
Ankit Neema
(2742 Points)
Replied 31 October 2020
If GST recovered from customer is credited to Current Liability Accounts (Output CGST or Output IGST or Output SGST) and payments to the authority are also debited to the said separate account, these should not form part of turnover shown in profit and loss account, so the turnover has to be seen exclusive of taxes.
CAclubindia
