Tax on expenses debited in p&l
Query (Issue) Started By: – THYAGARAJAN KALYANASUNDARAM Dated:- 14-8-2017 Last Reply Date:- 14-8-2017 Goods and Services Tax – GST
Got 6 Replies
GST
Dear expert,
We have to declare all expenses which is booked as expenses in profit & loss account monthly basis as follows
1. Procurement of goods / services from registered person
2. Procurement of goods / services from unregistered person
3. Even if all the expenses should declare in the return which is unrelated to GST tax?
Example: Salary, electricity, interest,etc.
Thanks in advance.
Reply By KASTURI SETHI:
The Reply:
As per Section 15 of CGST Act, all incidental expenses are to be included in the transactional value for the purpose
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