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Harakamal Chakravorty

Company: Haldia Petrochemicals Limited

Designation: Senior General Manager - Finance & Accounts

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Latest Posts by harakamal

Whether recovery of indirect taxes by supplier of goods/services form part of his turnover

August 12, 2021 2694 Views 1 comment Print

According to the provisions of IndAS, indirect taxes like sales tax, VAT, GST etc. that are recovered by the supplier from his customer should not form part of the supplier’s turnover as the tax is collected by the supplier on behalf of third parties. But in the opinion of the author, for reasons explained below, […]

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