Dear Sir/Madam,
If someone ask about Sales Turnover then which amount should I consider?
Sales + GST
OR
Pure Sales (without GST)
Thanks & regards,
Priyanka Mhatre
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Sales turnover without GST or with GST
Replies (7)
Quick Summary
Sales + gst is the turnover.
GST is a Liability and it can't be included in sales ..
Pure Sales, Only sales comes under Turnover. GST is a liability need to be paid to Govt. so GST not form part of Turnover
You are collecting GST and making payment to govt .It will add customer ledger in Sundry Receivables and Only pure without gst sales form part of turnover.
Taxable value sales is your Turnover GST is a liability
GST will not add to sales or turnover..
GST will be added GST ledger in liabilities and
It may be added to customer ledger in Sundry Receivables
GST will be added GST ledger in liabilities and
It may be added to customer ledger in Sundry Receivables
Ok, thanks to all of you.
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