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 :
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
Related Topics :
CAclubindia
