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Reg: Turnover difference

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harish kumar

183 Points Posted on 25 January 2020

dear sir,
as per my financial statements
taxable turnover is 100 & exempted (bank interest, agricultural income, sale of land) is 50..

total turnover : 150/- as per financial statements..

but only on 100/- I had paid tax and shown as turnover under GST..

IN GSTR 9C.. when iam doing turnover reconciliation IAM getting unreconciled difference of 50/-..

can I mention reason as it is exempted in GSTR 9C???

please need in urgent...

Replies (2)

Quick Summary

This discussion addresses a common GST query regarding turnover reconciliation. The user has a total turnover of 150 in their financial statements, with 100 being taxable and 50 consisting of exempted income (bank interest, agricultural income, sale of land). They are facing a reconciliation difference of 50 in GSTR 9C as tax was only paid on the 100 taxable turnover. Advice suggests classifying exempted income correctly, potentially under 'Non-GST supply' for items like the sale of land, which is not considered a supply under GST.