GST Turnover for Section 44AD
This query is : Resolved
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Mahabir Prasad Agarwal
(Querist)
30 January 2020
I registered under GST as regular assessee. In income tax, I want to declare my income U/S.44AD. What will be my turnover for section 44AD ? Either it will be only taxable value or invoice value ?
Amol S Joglekar
(Expert)
30 January 2020
In accounts, do you record the transaction at taxable value OR invoice value?
Mahabir Prasad Agarwal
(Querist)
30 January 2020
Sir, I record Taxable value separately and GST output separately.
Amol S Joglekar
(Expert)
30 January 2020
So? That is the answer to your question. When GST output is recorded separately, dont mix it with sales
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