Supply and Revenue

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Under GST, a supply is generally considered part of a supplier's revenue. However, there can be exceptions. For instance, selling an old machine might be classified as a supply but not recognised as revenue in the Profit & Loss account, due to differing treatments under accounting standards and Section 15 of the CGST Act.

Abhishek Gunjan

Abhishek Gunjan (Querist)

26 April 2020 Is it necessary that a supply under GST will also be part of Revenue of the supplier?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 April 2020 Yes it will be part of revenue.

CA Altamush Zafar

CA Altamush Zafar (Expert)

26 April 2020 In most of the cases yes. But there can be differences in certain cases due to different treatments as per accounting standards and section 15 of CGST

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)

30 April 2020 In general it is yes, but in cases like sale of Old Machine, it may come under the scope of supply but not as a revenue item in P& L account

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