turnover includes gst or not

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for calculating turnover under sec 44ab tax audit turnover includes gst or not
Replies (10)
Originally posted by : vijay mohan
for calculating turnover under sec 44ab tax audit turnover includes gst or not

U/s 44AB Turn Over calculate without GST Tax (Exclude)...

Since the GST is collected from customers and paid to the government you will act as a mediator for collecting and paying tax. Hence, the same should not be included as a part of turnover.

all u guyz r u sure that GST should not b considered for 44AB, some super CAs say Total T/O includes GST also. sec 145 says d same?? 

Originally posted by : Siddharth Mane
all u guyz r u sure that GST should not b considered for 44AB, some super CAs say Total T/O includes GST also. sec 145 says d same?? 

 

Yes Dear... Some CAs are conduct Tax Audit including GST Tax...

Rajaji Namaste,

My clients Net TO as Bills is less than 50L, including GST goes above 50L,

I want to take him under Tax Audit, can I go for 44AB? Thnx in advance.   

 

I think those CA'S for getting tax audit fee they said gst should be included in the turnover . my opinion in gst law turnover exclude gst and also as per as 9 turnover excludes taxes so better to exclude gst in calculating turnover . but we need a circular on this matter.
Hari Narayana, Please read the question once again. The question is for turonver for tax audit u/s 44AB of Income Tax Act,1961 and not for GST Audit u/s 35 of the CGST Act, 2017.

Meaning of turnover under above mentioned laws are different. It is totally agreeable that under GST Law aggregate turnover excludes GST specifically. However, since, it is not clearly given under the Income Tax Laws, one may opt to include or not to include GST while calculating turnover for tax audit purpose. It is discretionary in my opinion.

For Section 44AB, Turnover refers to Net of Taxes. 

Exclude the taxes 

Yes... I agreed to Mr Rakesh Joshi view...

as per sec 44AB** the GST Taxes also include in turn over calculation for filling ITR with Tax Audit...
Many CAs did the same way as Cenvat...


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