gross receipts for sec 44ad

[giri gattupalli]

respected sir,

whether gross receipts under SEC 44AD includes gst colled on sales or not .please discuss.

[AshaKanta Sharma]

The turnover amount will be excluding any taxes including GST

AI Summary

Gross receipts exclusion of GST clarifies turnover under presumptive taxation, GST collected is excluded from taxable turnover. Turnover for the presumptive taxation provision (sec 44AD) is to be computed excluding statutory taxes; amounts collected as GST on sales are not included in gross receipts or turnover for determining presumptive income.