Margin scheme in gst

what is the turnover in income tax if I opted margin scheme in GST? is it margin amount or sale amount?
Replies (2)
Quick Summary
When using the GST margin scheme, your turnover for income tax purposes is the total sale amount, not just the profit margin. You are required to pay GST on the full sale amount. However, you can offset any eligible Input Tax Credit (ITC) against your GST liability.

Turnover is your sale amount, and the GST has to paid on the sale amount, also you can adjust the ITC if any.

Margin scheme for second hand car etc

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details