Sir,
My client is doing Trading activity of Agricultural goods that means exempted goods (seed quality).
I am filling return every month,some time it would be nil return too.My question is we are not paying tax just we are showing purchase value and sales value alone in respective return.What will happen if I show monthly turn over 50 lacs.. honestly saying we are not paying tax why department asking my details? in the way of filling gst return...will they levy tax later for entire year of 2018 in 2019 or 2020?
Menu
consequence of Filling return for Agricultural Goods
Replies (2)
Even though its 50lac monthly turnover all from supply of exempted goods , there will be No Tax Liability Arise.
Govt cannot ask for Tax on sale exempted goods .
Govt cannot ask for Tax on sale exempted goods .
Yes agree with you Pankaj sir.
As the supply is exempted, no tax liability arises.
Government can't levy tax in future for this case.
As the supply is exempted, no tax liability arises.
Government can't levy tax in future for this case.
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
