I.t. Assess retail sales turnover mentioned below in f.y 19-20.
1.cash mode sales turnover Rs:73,50,000/- as per books
2.turnover as per 26As Rs:72,30,600/-
3.sft code :003 cash deposit in bank current account Rs:70,50,800/-
question:
Assess sales turnover declare Rs:73,50,000/- show in I.t return is correct or not correct.
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Turnover declare how much amount in i.t.return
Replies (1)
Sales turnover includes sales with taxes and net of excise duty in generic terms.But, Turnover is define under section 2( 91) of the companies Act 2013 and aggregate turnover isn’t defined under section 2(6) of the CGST act 2017. ( SGST / UTGST Act 2017 same ) which is like
Value of all (taxable supplies + exempted supplies + Nil Rated supplies + Zero rated supplies + Non GST supplies) – (Taxes & Compensation Cess under GST Act + inwards supplies + supplies under reverse charge)
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