turnover is incl gst or excl gst for determinig audit limit applicability !
caclub member (accountant) (45 Points)
23 March 2024turnover is incl gst or excl gst for determinig audit limit applicability !
RAJA P M
("Do the Right Thing...!!!")
(127169 Points)
Replied 23 March 2024
caclub member
(accountant)
(45 Points)
Replied 24 March 2024
RAJA P M
("Do the Right Thing...!!!")
(127169 Points)
Replied 24 March 2024
| Originally posted by : caclub member | ||
 |
@ raja p m I need a clear answer sir..ur answer is 50-50. |  |
It's excluding GST.
Bhaavesh Ramdatti
(2 Points)
Replied 26 March 2024
Excluding GST if in a regular scheme...
Including GST if in Composition Scheme
(1%, 5% etc. whatever applicable.......in compo.scheme)
RAJA P M
("Do the Right Thing...!!!")
(127169 Points)
Replied 26 March 2024
| Originally posted by : Bhaavesh Ramdatti | ||
|
Excluding GST if in a regular scheme... Including GST if in Composition Scheme (1%, 5% etc. whatever applicable.......in compo.scheme) |
|
No...
In composition scheme the GST tax is expense account. Not income.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
