Sec 206(1H) income tax act

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59 Points Posted on 11 March 2021
our turnover is 750000
and gst tax is 450000
the sec applicable on turnover 10 cr
turnover is including gst Or not
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On 11 March 2021 at 12:19 Report
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Quick Summary
This discussion clarifies the applicability of Section 206(1H) of the Income Tax Act, particularly concerning turnover thresholds. The key question is whether the turnover figure used for this section should include Goods and Services Tax (GST) or be calculated exclusive of GST. The consensus leans towards excluding GST when determining the applicable turnover for Section 206(1H).

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Chartered Accountant
24588 Points Posted on 11 March 2021
Not including GST
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On 11 March 2021 at 12:30
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student
108 Points Posted on 11 March 2021
Turnover ex gst
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On 11 March 2021 at 23:07

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