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Effect of gst on income tax return ????

Shilpa R (13 Points)

06 July 2017

what will be the effect of gst on income tax return. ???

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14 Replies

Ravi SADhiyan (Practice) (4510 Points)
Replied 06 July 2017

After GST we can't show different Turnover under Income tax

1 Like

shireesha reddy (25 Points)
Replied 06 July 2017

another one is rcm on expenses

1 Like

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 07 July 2017

@ ravi...what do you mean by different turnover??

saurabh (jaipur) (257 Points)
Replied 07 July 2017

turnover in gst portal and income tax portal should be same.
before gst there may be different between turnover.

saurabh (jaipur) (257 Points)
Replied 07 July 2017

turnover in gst portal and income tax portal should be same.
before gst there may be different between turnover.

saurabh (jaipur) (257 Points)
Replied 07 July 2017

and more thing. there is a big change in ITR filing.now you have to submit all expenses details separately while you submit your ITR.

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 07 July 2017

if anybody was showing different turnover earlier, wasn't It illegal? if scruitny will held in future than they will surely cross check and turnover reported in vat and income tax .

G D Daga (Consultant) (40 Points)
Replied 08 July 2017

why expense detail has to be submitted in ITR if the return is filed under 44 ADA ?

G D Daga (Consultant) (40 Points)
Replied 08 July 2017

why expense detail has to be submitted in ITR if the return is filed under 44 ADA ?

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 08 July 2017

which form are you using???

G D Daga (Consultant) (40 Points)
Replied 08 July 2017

ITR 4S with pressumtive tax of 50 % of the turnover

Shilpa R (13 Points)
Replied 08 July 2017

what would be the effect if tay payer opt for composition scheme in gst and files normal itr return ??

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 08 July 2017

now 4s has been changed to 4 from ay 2017-18....and there is

1 Like

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 08 July 2017

and there is no column for expenditure.....it has two columns only...one is of gross receipt and one is for presumptive income....make sure you are not using old utility or wrong one....