08 July 2020
How to show turnover details in GSTR 9C. As per Gst law turnover of Commission agent (arhtiya) is value of I form issued ie sale value (advance rulling is also recognising sale in this case). And as per Income Tax Law turnover of a commission agent is commission earned on sales. TDS was also deducted U/s 194 H on commission.
How can we justify our turnover while filling GSTR 9C and also in Tax audit under income Tax Act.. Are we liable to tax audit under Income Tax Act considering Sale as per GST returns filled.
08 July 2020
Justify the turnover difference in GSTR 9c reconciliation. Tax audit applicable based on turnover reported in ITR. GST turnover will not be considered.
08 July 2020
But Sir, assessee is proprietor and if we are taking commission turnover, it is below 44AB limit but if we are taking GST turnover then GST audit will be applicable. our concern is whether we are correct by taking commission income as turnover according to Income Tax Act and applies 44AB if turnover (commission income) exceeds prescribed limits and value of I form issued according to GST Act and file GSTR 9 & 9C accordingly. In 9C auditor has to justify assessee is commission agent and turnover criteria is different under both Acts.
08 July 2020
Yes, you are correct by taking commission income as turnover according to Income Tax Act and applies 44AB if turnover (commission income) exceeds prescribed limits and value of I form issued according to GST Act and file GSTR 9 & 9C accordingly. In 9C auditor has to justify assessee is commission agent and turnover criteria is different under both Acts.
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