Turnover in special case
This query is : Resolved
Parth Patel
(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?
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.
For GST purpose only net margin earned from sale.
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