Meaning of turnover of 16-17 in gstr 1
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2017
Sir, i registered in GST portal as new user. i did not have TIN. I started business in year 2010. In GSTR 1 turnover for Financial year 2016-17 need to be furnished. what is meaning of turnover of fy 16-17. Should i enter here Turnover reported in income tax return?
05 September 2017
yes, report the figure of 2016-17. This seems to be an additional information (right now redundant, though) expected from us. In due course of time, in reality, Govt will only tell us how much is our Gross Profit. Even it can tell us net profit before interest, salary and depreciation.
05 September 2017
Yes.
You are exactly correct. You can enter the values for the ITR based T/O...
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