GST deducted for Consultants income tax treatment

[Shan S]

Presumptive Taxation claiming 50% deduction- Gross Turn over should include GST paid or Can it be deducted?

[GIRISH CHANDAK]

44AD Reason 1 Sec. 145A(ii) does not specifically refers to GST. It provides for inclusion of those taxes which are paid or incurred by the assessee to bring the goods or services to the place of its location and condition as on the date of valuation.

[Shan S]

So in that case,does it mean that gst should be included in Turn over and it can only deducted as expense in case of not claiming Presumptive taxation 50%? 

AI Summary

Inclusion of GST in turnover: effect on presumptive taxation under section 44AD and deductibility when not opted. Whether GST forms part of gross turnover for presumptive taxation under Section 44AD and whether it can be claimed as an expense when not using the presumptive scheme; Section 145A(ii) does not expressly mention GST but provides for inclusion of taxes paid or incurred to bring goods or services to their location and condition as on the date of valuation, prompting the question of GST's inclusion in turnover versus treatment as a deductible expense outside the presumptive regime.