what is the defination of total turnover as per sec 44ad whether it includes taxable value plus gst or only taxable value and total sale reduce by sale return or not?
21 Replies
Sundararajan S
(Final Student of ICAI)
(1764 Points)
Replied 27 June 2018
Only taxable value. It excludes GST. How come a tax collected and paid by you become your income. No way. You just pass on the burden of indirect tax. It's not your money. It's neither your income nor your expenditure.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 27 June 2018
U/s 44ad the Turn Over calculated including GST / VAT values...
ROHIT KHUTETA
(STUDENT)
(87 Points)
Replied 27 June 2018
Total value(inclusive of GST). bcz gst is payable additionally @ prescribe %
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
my question is why include gst, gst is not my income is there any circular or notification regarding this please let me know
ROHIT KHUTETA
(STUDENT)
(87 Points)
Replied 27 June 2018
sorry for the earlier wrong suggestion
Gst will not include in total turnover
Gst will not include in total turnover
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 27 June 2018
| Originally posted by : ROHIT KHUTETA | ||
 |
sorry for the earlier wrong suggestion Gst will not include in total turnover |
 |
Dear.,
This is wrong...
1st one is correct...
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
as per icai guidance note gst will not be included in turnover .
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
but defination of turnover is not given in sec 44ad so that we we take defination form 44ab
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
persumting mean we are assuming that ur profit is 8% or higher and no deduction is allowed to you of expenses, persumting not mean govt charge tax on that part which is not a part of our sale we just collect the gst form my client and paid to the govt. so why we pay tax 8% on gst which is not our sale
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 27 June 2018
Without Books of Accounts how can You ASSUME Tax Value and Taxable Values...
nitish
(Self employed )
(102 Points)
Replied 27 June 2018
for the purpose of gst we are maintaining account without making account how we can file gst return
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