25 July 2018
My dealer is selling tobacco products on which GST rate is 28% plus cess @160%
Total Taxable turnover as per GST 3B return is Rs. 50,08,100.00 On which CGST @ 14% Rs. 7,01,134.00 On which SGST @ 14% Rs. 7,01,134.00 On which Cess @ 160% Rs. 80,12,960.00
Total Value including all taxes is Rs. 1,44,23,328.00
Dealer is following booking sale and purchase net of tax in his books.
Question: For the purpose of filling income tax return turnover is net of tax or not ?
CAclubindia
