Margin scheme in gst
Manoj Gonarkar (Accountant) (125 Points)
25 February 2022
what is the turnover in income tax if I opted margin scheme in GST? is it margin amount or sale amount?
2 Replies
Ashok kumar
(CA Final)
(587 Points)
Replied 25 February 2022
Turnover is your sale amount, and the GST has to paid on the sale amount, also you can adjust the ITC if any.
Manoj Gonarkar
(Accountant)
(125 Points)
Replied 25 February 2022
Margin scheme for second hand car etc
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