banner_ad

Total income for professional

Others 685 views 5 replies
User Avatar

10 Points Posted on 26 January 2020
Hi...I work as a independent consultant and get paid a fixed amount on a monthly basis. I add 18% GST to the invoice which in turn I pay to the Govt on a monthly basis. Will the GST amount be considered part of my income or is it just my monthly fixed amount?
0 Reply Share Follow
On 26 January 2020 at 14:13 Report
Replies (5)
User Avatar

17264 Points Posted on 26 January 2020
It will be just your fixed monthly amount as further reduced by incidental expenses thereon
1 Reply
On 26 January 2020 at 14:39
User Avatar

"Do the Right Thing...!!!"
128152 Points Posted on 26 January 2020
@ Mr Aditya.,

You get fixed amount & You add Tax to the amount....!

It's not understandable...

Are You give invoice with Tax...?

Is tax including FA or excluding FA...?

Are You asking incomes matter under income tax...?
Reply
On 26 January 2020 at 15:12
User Avatar

Profession Business
28207 Points Posted on 27 January 2020
If you raise bill to your clients and you receive an amount exceeding Rs.50 lakhs during a financial year .
You are bound to be taxable.
As regards GST IF YOU
HV GST NUMBER YOU HV TO RAISE BILL.
THERE ARE OTHER COMPLIANCES.
Reply
On 27 January 2020 at 07:28
User Avatar

CA
428 Points Posted on 27 January 2020
GST amount is not included in the turnover definition since it is not an income. You are collecting and paying it to the Government
Reply
On 27 January 2020 at 08:11
User Avatar

Student
22 Points Posted on 17 February 2020

You are collecting GST on behalf of the Government & then depositing it with the Government. Thus, GST is not an income.

Reply
On 17 February 2020 at 10:31


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details