TOTAL SALES/TURNOVER AS PER BALANCE SHEET/ GST RETURNS

222 views
User Avatar

21 Points Posted on 08 April 2022

IN GSTR-1  SALES/TURNOVER  SHOWS  INCLUDE PACKING/FORWARDING CHARGED IN SALES INVOICE 

BUT IN TRADING ACCOUNT  SALES/TURNOVER  WITHOUT PACKING/FORWARWARDING CHARGES

IS PACKING/FORWARDING TRANSFER IN SALES ACCOUNT AT THE YEAR END  OR NOT   ?

FOR  RECONCILE  SALES/TURNOVER  WITH GST RETURNS

PLEASE CLEAR THIS MATTER

0 Reply Share Follow Topic
On 08 April 2022 at 12:28 Report
Replies (2)
Quick Summary
This discussion clarifies how packing and forwarding charges are treated for GST and balance sheet reporting. While GST returns (GSTR-1) include these charges as part of sales turnover, the trading account typically reports actual sales without them. The packing and forwarding charges are often transferred to the sales account at year-end to reconcile the figures.

User Avatar

Practising CA
5649 Points Posted on 10 April 2022
Packing forwarding charged in sales invoice shall form part of the sales in trading account.
Reply
On 10 April 2022 at 00:41
User Avatar

Profession
19978 Points Posted on 10 April 2022
Generally for reporting in statutory forms specially actual sales are being reported.
Reply
On 10 April 2022 at 09:56

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
  2. Sale of shares in indian company by a non resident
  3. Difference in TIS
  4. GSTR-9C Upload Status Error Occured
  5. “Income Tax Implications of Company-Related
  6. Advice needed: Hypothetical case of non-filing of
  7. Demand Raised for Cess Amount Despite Section 89 R
  8. WRONG BILL NO FILED IN GST R1
  9. Addtional trade name for my another firm
  10. Commission / Agency Business without books: REAL E

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details