Suppose a person doing a Grocery shop business. Selling the products to end consumers. Usually his sales values are some hundreds to thousands. Aggregately he getts some 50 lakhs to 65 lakhs Turnover in a year...
Now he would like to get a loan throw submitting IT filings documents and other collaterals...
While IT filings, the ITR utility asking the sales Turnover as per the GST. Because total sales value exceeds 20 lakhs.
So how he need to file the GST filings, and ITR filings...
applicable rate on vegetable is nil so you can file return and show in nil_rated supplies in gst return
CAclubindia
