Gst

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2017 One client is distributor of ideas cellular ltd and his annual turnover of rs. 7645250 and receive commission of rs 456270 & tds of rs 45627. Whether he is liable for audit or file return u/s 44ad i. e. 455270@8% and which turnover is liable for gst i.e. Rs. 7645250 or rs. 456270

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 June 2017 He is not liable for tax audit and not eligible to file return u/s 44ad.
His turnover liable for gst is Rs. 7645250 ITC can be claimed.

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2017 Sir what turnover is consider for file income tax returns i. e. Rs. 7645250 or rs. 456270 and please tell me reason for why he is not required for tax audit and not eligible to file income tax return u/s 44ad

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 June 2017 456270 is your commission income to declare in IT return.

Querist : Anonymous

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29 June 2017 Sir can i claims exapences against this commission or not

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2017 Sir whether it is service activity or trading activity? And also help mi to find out proper hsn code for this activity

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 June 2017 You can claim expenses against this commission, It is a service activity hsn code not applicable only SAC code applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Sir if his turnover is above 1 cr. And he received commission of rs. 514510 then he is liable for tax audit or not and which sac code is applicable for this service.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 June 2017 00440225 SAC code. Tax audit applicable only if commission received exceeds 1 crore.

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Sir if he show only commission as turnover i. e. Rs. 456270 in your it return and claim refund and he show rs. 7645250 as turnover in GST Return.... There will be creating any problem in future or not... And also provide a rate of gst on this services...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 June 2017 Any query on this can be explained. 18% GST applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Therefore turnover of rs. 456270 as per income tax return and turnover of rs. 7645250 as per GST Return is correct or not

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Advocate

Advocate (Expert)
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01 July 2017 Tax audit applicable only if commission received exceeds Rs 50 Lakhs for commission income or if Turnover exceeds Rs 2 Crore.
on commission income, he will be liable to pay GST @18% under Business Auxuliary services.

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2017 Sir which turnover is show in it return i. e. Rs. 7645250 or rs. 456270 (only commission) and which turnover is show in gst return i. e. Rs. 7645250 or rs. 456270 (only commission)

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 July 2017 Show commission income in it return i. e. Rs. 456270 (only commission) and turnover show in gst return i. e. Rs. 7645250.

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Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2017 Sir if turnover of rs. 7645250 show in gst return is link to the the income tax return then if he show turnover of rs. 456270 (only commission) in income tax return there will be creating any problem in future or not

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2017 Sir retailer of sim card, voucher and balance whether it is trading activity or service activity and which code is applicable.. HSN code or SAC Code

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 July 2017 It is service activity SAC code applicable.

Income tax return there will be no problem in future can be explained.

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2017 Sir somebody said that GST turnover is a automatically link to the income tax return and if client show different turnover in GST Return and income tax return there will be creating problem in future... Its correct or not...

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2017 Sir also help me to find out proper SAC code for retailers of sim card, voucher and balance