Hello,
We have paid certain amount of GST tax on the basis of intimation received recently by us from GST TAX Authorities relating to the period FY 17-18 & FY 18-19.
My question here is, whether the amount paid as a GST tax expense relating to FY 17-18 & FY 18-19 be " ALLOWED " as a deduction under the income tax while drafting computation of income for FY 21-22 or it will be treated as a "DISALLOWED EXPENSE" and will be added back to my P&L net profits ??
Kindly revert...
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GST TAX EXPENSE PAID FOR FY 17-18 & 18-19 EFFECTS IN COMPUTATION OF INCOME FOR AY 22-23
Replies (2)
If that be not any penalty paid, then it will be allowed. You can claim in the year of payment.
IT was a payment made for tax payable under RCM method under GST, for that financial years however it was not paid during that time so we had to pay tax along with interest now.. shall it be an allowed expense now ??
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