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Is gst refund taxable under PGBP?

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Student CA Final
16 Points Posted on 08 May 2020
IF gst and interest on gst is allowed as expenditure under section 36. so , whether the refund of gst is taxable under PGBP or not ?

explain with reason.
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On 08 May 2020 at 15:56 Report
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student
42 Points Posted on 09 May 2020
Hi Sir,

Actually GST refund which we get is for the GST already paid (same is not expensed out rather it forms part of the Duties and Taxes i.e, Balance Sheet item).

So now gst refund will be adjusted by duties and taxes ledger.
Therefore GST refund will not form part of business income.
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On 09 May 2020 at 00:07
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Student CA Final
16 Points Posted on 09 May 2020
Thank u
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On 09 May 2020 at 08:17


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