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INOCOME TAX ON GST
Doubt : How is GST treated in INCOME TAX
Replies (4)
One is indirect tax another is direct tax.
gst is indirect tax...
income tax is direct tax.
tax is not deducted on gst when it is charged on contractors bill.
gst is indirect tax...
income tax is direct tax.
tax is not deducted on gst when it is charged on contractors bill.
My doubt is,is it allowed as a deduction or added to purchase value in income tax?
I hope your query is not clear.
As appears from the above you want to know whether its allowed as a deduction or not.
It is set off against outward sales.
Input GST IS SET OFF AGAINST OUTPUT GST.
As appears from the above you want to know whether its allowed as a deduction or not.
It is set off against outward sales.
Input GST IS SET OFF AGAINST OUTPUT GST.
Ok sir I got to known about it after ur reply...
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