Regarding gross receipts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2018 Hi all,
I have shown gross receipts around 28 lac and 15% profit(i.e around 4 lac) for the last year(AY 2017-18), but I have shown 6 lac gross receipts with 70% profit (i.e around 4.15lac) for the current year (AY 2018-19), will this be a problem as I have reduced the gross receipts 28 lac to 6 lac, and i have filed my returns, and if i show my gross receipts of 28 lac this year then i have to register under GST which i dont want to, please suggest your opinions and kindly help.

Thank you

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

13 October 2018 Revise the return show correctly gross receipts you will not face any problem in income tax.
Register now under GST so that you will not face any problem.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok