https://www.taxtmi.com/forum/issue?id=119222 A taxpayer disclosed excess turnover in the profit and loss account under adjustments not elsewhere classified. If the excess is due to non supply receipts (interest, breach receipts, supplier credits with ITC reversal, export incentives, insurance recoveries) and documented in notes to accounts, no GST liability arises. If unexplained, the department may treat it as escapement and issue a show cause notice but must first establish that the amount is consideration for supply; documentary evidence should be furnished to the proper officer to avoid or defend against departmental action. en-us Sun, 21 Jul 2024 14:31:59 +0530 Fri, 26 Jul 2024 04:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119222 A taxpayer disclosed excess turnover in the profit and loss account under adjustments not elsewhere classified. If the excess is due to non supply receipts (interest, breach receipts, supplier credits with ITC reversal, export incentives, insurance recoveries) and documented in notes to accounts, no GST liability arises. If unexplained, the department may treat it as escapement and issue a show cause notice but must first establish that the amount is consideration for supply; documentary evidence should be furnished to the proper officer to avoid or defend against departmental action. Discussion-Forum GST Sun, 21 Jul 2024 14:31:59 +0530 https://www.taxtmi.com/forum/issue?id=119222