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Turnover in special case

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(Querist)
22 May 2022 In case Auto dealer engaged in purchase and sale of used cars having turnover of more than 1 cr considering all sale of old cars during the year, what will be T/O for income tax and GST purpose only net margin earned from sale or whole sale amount?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 May 2022 Turnover for income tax is the total sales value.
For GST purpose only net margin earned from sale.
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