GST section of ITR-3

[narendra patel]

Sir,

In GST section of Income Tax Return 3,

In 'Annual value of outward supplies as per GST returns filed', do we have to show Taxable Amount (without GST) or Total Invoice Value?

kindly clarify. Thanks.

[KASTURI SETHI]

In my view, here value stands assessable value. Value always stands for assessable value.(excluding all taxes) Annual Value tithout GST. I am not Income Tax expert. There are experts in Income Tax Act in this forum. They are requested to confirm whether I am correct.

[narendra patel]

Thank you Sir for your clarification.

AI Summary

Assessable value: report GST field in ITR 3 as taxable amount excluding GST, not gross invoice value. The GST field in ITR-3 should record the assessable value of outward supplies-annual taxable amount excluding GST and other taxes-rather than the total invoice value inclusive of GST; the reply is stated as a non authoritative view pending confirmation by income tax experts.