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Exempted sale

akhilesh tiwari (private worker) (240 Points)

29 August 2022

Dear sir

I have not reported the exempted sales in the gst returns. can I show in our income tax and will not have to face any problem in this

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5 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14692 Points)
Replied 29 August 2022

For which F.Y you have not reported exempted supply in GST return.?.

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akhilesh tiwari (private worker) (240 Points)
Replied 30 August 2022

Financial year 2021-22

prasad Nilugal ( GST Practitioner & Accounts ) (14692 Points)
Replied 30 August 2022

You Can show exempt supply in GSTR9( Table 5) in Annual return F.Y 21-22 , so that your Income tax and GST turnover will tally .

veerendar singh (tax consultant) (3301 Points)
Replied 30 August 2022

Dont worry akhilesh.
you show all your turnover in income tax returns.
it wont lead to additional GST payment as non reporting of exempt turnover in gst return does not usually have any impact on gst liability except in case of apportionment of common itc.

you may want to consult some expert about common itc apportionment.
if you had any common itc then it would be better if you didnt show your exempt turnover in itr