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Impact on Income Tax for GST Reversal

Tax queries 261 views 2 replies

We take input for some purchase (non-capital goods) against a party whose gst cancelled in fy 2020-2021.

We reverse the ITC in fy 2021-22 and paid with interest.

Now my question is this reversal gst expenses and interest disallowed in income tax ?

Please give suggestion.

Replies (2)

No, should not be disallowed...

@ Dhirajlal sir ,plse check me


the managerial remuneration should not exceed the 11 percentage of net profit...

1. a company having one whole time director, one managing director and manager means the remuneration is 5%.

2. if this person are one or more does not exceed of 10% remuneration


3. if these three persons are which means director manager managing director are partly means 1%

3%



could you please check me and if there is any mistake means please explain me sir


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