Supply and Revenue
This query is : Resolved
Quick Summary
Abhishek Gunjan
(Querist)
26 April 2020
Is it necessary that a supply under GST will also be part of Revenue of the supplier?
CA R SEETHARAMAN
(Expert)
26 April 2020
Yes it will be part of revenue.
CA Altamush Zafar
(Expert)
26 April 2020
In most of the cases yes. But there can be differences in certain cases due to different treatments as per accounting standards and section 15 of CGST
30 April 2020
In general it is yes, but in cases like sale of Old Machine, it may come under the scope of supply but not as a revenue item in P& L account
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
