06 April 2018
In the new ITR 4 released by department for AY 2018-19, they are asking for GST Number and turnover filed through GST returns. Does this mean that professionals having aggregate turnover of less than 20 lakhs and those whose turnover is subjected to reverse charge mechanism are not entitled to presumptive taxation? Most of these professionals may not be registered with GST.
06 April 2018
no. That is not the correct interpretation specially for FY 2017-18 as the GST was not even applicable for whole of the year. This is just a reporting requirement.
06 April 2018
No,it doesn't mean the same as you are interpreting. GSTIn & GST Turnover is taken to match the amount of sale & also to check your registration & composition requirements.
06 April 2018
Thanks for your replies. I only hope it does not become a mandatory requirement. That can be ascertained only when we get the Java or Excel utility for efiling.
CAclubindia
