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Exempted sale

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akhilesh tiwari

private worker

240 Points Posted on 29 August 2022

Dear sir

I have not reported the exempted sales in the gst returns. can I show in our income tax and will not have to face any problem in this

Replies (5)

Quick Summary

This discussion addresses how to handle exempted sales that were not reported in GST returns for FY 2021-22. It advises showing all turnover in income tax returns to reconcile with GST figures. While not reporting exempt turnover usually doesn't impact GST liability, it's important to consider common Input Tax Credit (ITC) apportionment. The recommendation is to declare these sales in the annual GST return (GSTR9, Table 5) to ensure your turnovers tally.

prasad Nilugal

GST Practitioner & Accounts

15140 Points Posted on 29 August 2022

For which F.Y you have not reported exempted supply in GST return.?.

akhilesh tiwari

private worker

240 Points Posted on 30 August 2022

Financial year 2021-22

prasad Nilugal

GST Practitioner & Accounts

15140 Points Posted on 30 August 2022

You Can show exempt supply in GSTR9( Table 5) in Annual return F.Y 21-22 , so that your Income tax and GST turnover will tally .

veerendar singh

tax consultant

3306 Points Posted on 30 August 2022

Dont worry akhilesh.
you show all your turnover in income tax returns.
it wont lead to additional GST payment as non reporting of exempt turnover in gst return does not usually have any impact on gst liability except in case of apportionment of common itc.

you may want to consult some expert about common itc apportionment.
if you had any common itc then it would be better if you didnt show your exempt turnover in itr