NARENDRA (ACCOUNTS MANAGER) (1782 Points)
17 October 2013WE ARE A COMMISSION AGENT AS WELL AS TRADER & SELLING THE GOODS AGAINST COMMISSION. WE ARE RAISING THE INVOICES WHILE SELLING GOODS & PAY THE SALES TAX (VAT). THIS SALES TAX ( AGAINST COMMISSION )REIMBURSE BY THE SUPPLIER . SHALL I CONSIDERED IT (SALES TAX )AS A INCOME ?
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 18 October 2013
If you collecting the sales tax from customer and again reimbursed by supplier it is a income.
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