Client business m as per gst cash sales h.. 670000/- aur cash deposit in bank h... Rs. 2492000/- collection from debtor and cash sales money till 31/03/18
Kya ab unko 8% m 670000/- dikhna h ya 2492000/- ka 8% hoga....
As per gst cash sales 670000/- and as per cash received in bank 2492000 include debtor collection in cash and sales of fy 2017-18... Kindly tell me which figure to be shown under itr 4 for 8%....
Before GST we can consider Total receipts of the bank deposits... Also Assessee is not registered under GST then We can take the deposit amount as his Gross Receipts...
But, Here difficult is Registered under GST and His Actual (?!) sales not matched with GST returns (?!).
So,
As per my view Better to Show the Receipt as per GST. If You show based on total receipt of Bank then Notice kicked from CBIC for the mismatch...
or
Show the total receipts of the bank is GST sale and pay GST with Interest...
Note : Less the Bank Deposit amount from Last Year outstanding if any received...
[ (Whole cash sales) + (recovery from debtors for "sales of relevant financial year") ] should be the turnover and profit shown shall be 8% of turnover or more as per claim by assessee
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