TURNOVER VS BANK TRANSACTION
This query is : Resolved
16 September 2021
ONE OF MY CLIENTS SHOW GST TURNOVER AS Rs.63,79,861. BUT HIS BANK STATEMENTS SHOWS THE TRANSACTION VALUE OF 1,12,43,519. WHETHER I DISCLOSE THE GST TURNOVER AS SALES OR BANK TRANSACTION VALUE?
IF I DISCLOSE THE GST TURNOVER AS SALES, IS THERE ANY QUERY REGARDING THE BANK TRANSACTION VALUE?
PLEASE GUIDE..
IF I DISCLOSE THE GST TURNOVER AS SALES, IS THERE ANY QUERY REGARDING THE BANK TRANSACTION VALUE?
PLEASE GUIDE..
16 September 2021
Ascertain the reason behind the difference in transactions as per Bank account and the GST turnover. No opinion can be given based on the difference...
16 September 2021
IF I DISCLOSE GST TURNOVER, WHAT TYPE OF ISSUES MAY I RECEIVE?
17 September 2021
In case of scrutiny the excess amount treated as undisclosed income, liable to tax, interest & penalty.
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