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AUDIT (FINANCE)     07 June 2019

Used car sales treatmentof income tax and gst

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


 1 Replies

rama krishnan

rama krishnan   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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