ITR
GST details in the ITR-4 form
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Facts
ITR-4 asks for your GSTIN and the turnover as per GST returns. The department can compare this with your ITR turnover and GSTR-3B data in AIS.
Provisions and law
- Sec 44AD (now Sec 58)Presumptive business income at 6% of digital and 8% of other receipts for eligible businesses
- Sec 285BB (now Sec 510)Annual Information Statement includes GST turnover data
Analysis
Enter each GSTIN and its turnover. If GST turnover was ₹95 lakh but ITR turnover is ₹90 lakh, keep a reconciliation, for example ₹5 lakh of advances received in March that became sales in April. Big unexplained gaps are a common reason for notices. If you are not registered, leave the fields blank.
Conclusion
- Get GSTR-3B totals for April to March
- Enter GSTIN and GST turnover in ITR-4
- Reconcile any difference with ITR turnover
- Keep the reconciliation with your records
A Savvy can do this for you
Presumptive income tax return, ITR-4 (Sugam), Sec 58 (old 44AD, 44ADA, 44AE)
₹1,999
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