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Question ID : 41090

Tax Audit in case of Commission Agent

Dear Sir , Client is a commission agent in apmc market and main source of income is commission only but in GST he is showing sales So for tax audit turnover limit should be checked or not and if on a safer side we do tax audit Whether sales figure to be shown or commission figure in 3CD report? Thanks

Posted by TIRTH SHAH on Jul 03, 2021

Filed Under AUDIT

Answer ID : 81179

Only commission will be considered as turnover. If on a safer side tax Audi is conducted, sales, purchase and commission figures should be shown separately.

Posted by CA. chunauti dholakia on Jul 03, 2021
Answer ID : 81193

Ideally only commission income shall be shown as Income as there is no income other than commission one.

Posted by CA. JHA SHANKAR KUMAR on Jul 16, 2021