GST Collected by Foreign Company not to be Included in Gross Receipts for Computation of Income u/s 44BB: ITAT [Read Order]

GST would not form part of gross receipts for the purposes of computing income under Section 44BB of the Income Tax Act.
By Navasree A.M - On April 15, 2025 7:29 pm - 3 mins read
Section 44BB - ITAT ruling GST - GST gross receipts - GST collected - Taxscan

The Income Tax Appellate Tribunal ( ITAT ) bench of Mumbai has ruled that the GST (Goods and Services Tax) collected by the foreign company is excluded from Gross Receipts for calculating income under Section 44BB of the Income Tax Act, 1961. The issues raised by the appellant, Oceaneering International GMBH is the inclusion of…

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