Used car sales treatmentof income tax and gst

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FINANCE
33 Points Posted on 07 June 2019

Dear Friends and Experts,

Actually my one of the client doing the business of USED CAR SALES his total turnover above  INR 2 crores. Now how to showing of  Aggregate income, I wanted to take total sales value or Sales - Purchase = Difference Value, Please give suggestion me, Very Urgent

Thanks in Advance

 

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On 07 June 2019 at 19:08 Report
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5751 Points Posted on 08 June 2019
if he is acting as only commission agent then show the aggregate commission earned as income less expenses as your total income. if you are doing purchase and sales as business, show total sales value as your turnover. in either of the case, your accounts needs to be audited. difference of opinions invited and appreciated
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On 08 June 2019 at 01:35

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