Hi,
I have one client....it has 2 branches one in Delhi and one in Haryana.
Delhi Branch Sale - 2.5 Cr.
Haryana Branch Sale - 1 Cr.
Total Sale as per GST - 3.5 Cr.
But Haryana branch only transfers stock to Delhi branch and no outside sale.
Now, as per Income Tax audit will be done on 2.5 cr.
Can we show Rs. 3.5 cr. sale in ITR, as sale and purchase of 1 cr. will be set off against each other and no impact on GP/NP.
Because if we state 2.5 cr. sale in ITR, then we can get notice from Income Tax department and it can lead to unnecessary litigation.
If anyone of you have any such client, please respond how are dealing with the same in audit and ITR?
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Inter State Stock/Branch Transfer - GST/Audit Mismatch
Replies (4)
Under GST one state to another movement of goods considered as Sales...
Within the state also you can sale. In case it is one state to another it is igst .
within the state sgst and cost.
within the state sgst and cost.
Very good veey kudd...
Mr.sabyaschi Mukherjee...pls avoid unnecessary and irrelevant information and just answer the question. Please answer in such a way that the person who asked the question Understands it. Sorry Rohit sir for debating at your forum.
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