Question ID :
While disallowing input with respect to exempted turnover, what is the total turnover to be taken for the month? Only the turnover which the input is utilised for or the total turnover even such inputs are not utilised? Ex. Interest Income, Rent income etc.,. If we have to consider entire turnover, we know interest accrued income in later months checking the TDS. But we have to file GST Return early. Even we estimate such incomes they are not accurate.
Also another situation where inputs are availed in one month and there is only exempted turnover during the month but taxable supply occurred in later month we have to disallow the entire input. In later month we have to pay entire tax without input. There is no provision in GST to consider the exempted turnover and taxable turnover to total turnover on yearly basis for year end adjustment.
VINAY BHARGAV KUMAR G
Apr 24, 2019