Menu
Presumptive Scheme: 44AD
Turnover need to be considered Inclusive of GST Or Exclusive of GST for Presumptive ITR Returns
Replies (8)
Quick Summary
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 Topics :
- Company data for software
- Car purchase to be eligible for ITC
- GST Refund on payment to builder
- TDS u/s 194Q on electricity supply by DHBVN etc.
- Subject: Can I Apply for Fresh GST Registration on
- Additional place in GST RC
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
- Short Deduction
Related Topics :
CAclubindia
