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Turnover and GST in Section 44AD by TAX FILLING is a document available to read on EtoBox.

What is Turnover and GST in Section 44AD about?

Mr. X earned Rs. 1.5 crore in sales and paid Rs. 27 lakh in GST. He wants to use the presumptive taxation scheme under section 44AD at 8% or 6% of income. The document discusses whether the presumptive rate should apply to Rs. 1.5 crore in sales or Rs. 1.77 crore including GST. It analyzes different sources and concludes that while the issue is controversial, GST amount should be excluded from turnover for purposes of sections 44AD, 44AB and 44ADA until clarified by tax authorities.

Author

TAX FILLING

Language

EN