What if a person has filed nil returns for full year in GST but wants to show a income of 250000 in income tax?
Can someone do that?
Will one have to pay GST on that?
Menu
GST returns file nil for full year
Replies (7)
there may be one solution that if the income to be shown in ITR is income from other source like income by way of gift than it falls in gst as nil rated or exempt supply which leads to no gst liability in future due to filling nil gst return for the year..
this is probable solution..
this is probable solution..
if you have a property on your name so you can show some rental income ( GST is not applicable on rent of residential ) and you can show some income from other sources like ( basic stipend and tuition fees )
surrender ur gst no if not required...and show IOS this year or rental income
@ Medha Shah.,
If he will show the amount as his business income then GST provision applicable...
So,
Better to file as per above replies from our experts view.
If he will show the amount as his business income then GST provision applicable...
So,
Better to file as per above replies from our experts view.
Thanks all for your views
good clarification and information
What if person person is salaried and having a gst no. filing nil return and having salary in around 250000 per annum, then person have to surrender gst no. or to take over by filling nil return till he start his own gst billing
Recent Topics :
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
Related Topics :
CAclubindia
