Easy Office
LCI Learning

VAT on Sales sec 115 BAA of the IT Act

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 November 2022 Is it required to add VAT component in gross turnover u/s 115 BAA of the IT Act,1961
Profile Image

Dhirajlal Rambhia online

Profile Image

Dhirajlal Rambhia online (Expert)
05 November 2022 No. GST is collected on behalf of Government, as such it is not included in P&L acc. And hence, it is not part of income for calculation of tax liability u/s. 115BAA of IT act.
Profile Image

CA Sudeep Singh

Profile Image

CA Sudeep Singh (Querist)
05 November 2022 Sir, i want to know whether VAT has to be added in Gross Turnover u/s 115BAA of the IT Act, not asked about the GST treatment
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Dhirajlal Rambhia online

Profile Image

Dhirajlal Rambhia online (Expert)
05 November 2022 On which item Vat is collected? Isn't it paid back to treasury?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links