banner_ad

Any o/s gst amount of the f.s. be added to income of that year..?

162 views 5 replies
Dear Sir/ma'am,

I have done my last a.y. 19-20 audit report and return in sep-19, however at that point of time my outstanding gst was 9 lakh. and same is reported in audit also. same is paid by 2 months. and at present there is no outstanding gst liabilty. Net profit was 4 lakhs in return.
whether the outstanding gst liabilty of 9 lakh be added back to net profit of that year...?
Thank you.
Replies (5)
No........

Only Added back in computation of income
Sir, o/s of gst amount of that f.s. year dept. has added back into the net profit for the year and has increased net profit from 4L to 13L and computed tax on 13L. (4L n.p+9L o/s gst amt.)
mean 4L. net profit and 9L o/s gst of that year. and computed tax on 13L.
what should i do here.
Req. you kind help plz.

Claim the deduction in AY 2020-21.

Ok sir, so department has computed tax on 13L (4L n.p+9L o/s gst amt.) instead of 4L and raised tax demand in of tax instead of refund amt.
what can i do here, claim that refund..?or i have to pay tax on 13L..?
Originally posted by : sameer
Ok sir, so department has computed tax on 13L (4L n.p+9L o/s gst amt.) instead of 4L and raised tax demand in of tax instead of refund amt.what can i do here, claim that refund..?or i have to pay tax on 13L..?

Pay tax on 13L.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details