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TMI Blogsale turnover for works contractorX X X X Extracts X X X X X X X X Extracts X X X X ..... sale turnover for works contractor X X X X Extracts X X X X X X X X Extracts X X X X ..... orks contractor total gross bill received for fy 2019-20 is 1,00,000,00 (one crore) gross receipts for fy 2019-20 = 1,00,00,000 gst included at 12% 10,71,429 ----------------------------- gross re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceipts for incometax under sec 44AB is 89,28,571 whether i am right or wrong please discuss thanking you Reply By KASTURI SETHI: The Reply: Is there any clause in the contract/agreement to the ef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fect that gross receipt i.e. Rs.one crore will be inclusive of GST ? Reply By giri gattupalli: The Reply: respected sir as per the final payment issued to contractor , contractor received value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of work done =89,28,571 gst = 10,71,429 ------------- total = 1,00,00,000 Reply By KASTURI SETHI: The Reply: GST does not form part of ' turnover' under Section 44 AB of the Income Tax A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct. Reply By giri gattupalli: The Reply: thank you sethi ji Reply By Ganeshan Kalyani: The Reply: I fully agree with the views of Sri Kasturi Sir. Revenue accounted in books net of GST. And, GST i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s accounted in current liability as it is a statutory liability and shall be paid. X X X X Extracts X X X X X X X X Extracts X X X X
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