GST Collected Separately on Invoices Should Not Be Included in Gross Receipts Under Section 44BB Presumptive Income Calculation

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....The ITAT ruled that GST collected as a separate line item in invoices, being a statutory levy, should not be included in gross receipts when computing presumptive income under Section 44BB of the Act. Following precedents in Orient Overseas Container Line Limited and Seadrill International Ltd, the Tribunal held that GST stands outside the computation of gross receipts for Section 44BB purposes. The Assessing Officer was directed to exclude GST amounts while determining the assessee's gross receipts for presumptive income calculation. The assessee's ground of appeal on this issue was allowed, establishing that statutory levies separately identified in invoices are not part of the computational base for presumptive taxation.....