Question ID :
40938
Turnover for Tax Audit Purpose
Whether GST Amount should be added for calculating Turnover for the purpose of Tax Audit u/s 44AB or it should be calculated without adding GST Amount ?
Posted by
GAURAV GUPTA
on
Jan 06, 2021
Filed Under
DIRECT TAXES
Please add GST amount in view of section 145A.
Posted by
B.CHACKRAPANI WARRIER on
Jan 06, 2021
Answer ID :
80865
No. Even if taxpayer is under regular or composition scheme, amount of GST on turnover is not included in turnover for the purpose of calculation of turnover for applicability of tax audit under section 44AB.
Posted by
CA. chunauti dholakia on
Jan 07, 2021
Answer ID :
80867
GST FOR MANUFACTURER OR TRADER IS COLLECTED FROM BUYER AFTER TAKING INPUT TAX CREDIT THE BALANCE IS TO BE PAID HENCE INCLUSION OF GST IN TURNOVER IS NOT JUSTIFIED AS PER MY VIEW
Posted by
Hari Beldona on
Jan 09, 2021
Answer ID :
80870
GST should be added for calculation of turnover while calculating threshold limite of tax audit u/s 44AB
Posted by
CA. SATISH CHAND GARG on
Jan 09, 2021
Answer ID :
80906
Calculated without adding gst
Posted by
CA JEET REWRI on
Feb 14, 2021