Menu
Presumptive Scheme: 44AD
Turnover need to be considered Inclusive of GST Or Exclusive of GST for Presumptive ITR Returns
Replies (8)
Turover is always without GST.
Turover is always without GST.
Excluding GST as it is not your revenue, its your liability to pay to government.
Turnover should be calculated exclusive of GST
Turnover disclosure for the purpose of financial accounts needs IS DISCLOSED NET OF GST.
ITR RETURNS ARE ALWAYS FILED AS PER ANNUAL ACCOUNTS.
ITR RETURNS ARE ALWAYS FILED AS PER ANNUAL ACCOUNTS.
But, as per 26AS there will be mismatch between Turnover & NET GST right, any problem
In my opinion,
if you are composition dealer,
you must include tax in Turnover.
Yes there might be made mismatch but there should not be any problem as calculation principles of turnover is different for GST and Income Tax
Recent Threads
- Procedure for 'inter-unit job work' under GST Act
- Advances received and Advances adjusted - HSN Summ
- TAX ON SALE OF COMPANY'S SHARES
- Refund on Hold - Section 245
- CLARITY REGARDING ESIC WAGE CALCULATION AFTER NEW
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
Related Threads
CAclubindia
