why gst is not on adjustment in final accounting???
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hey your answer here.
Profit and loss account is outcome of your business income and expenses but doesnot include GST. Further, since GST law itself has mechanism to set off your GST expenses, it can not be claimed as expenses in Income Tax returns.
I hope it helps
Profit and loss account is outcome of your business income and expenses but doesnot include GST. Further, since GST law itself has mechanism to set off your GST expenses, it can not be claimed as expenses in Income Tax returns.
I hope it helps
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