turnover tax

CA Shilpi Jain (Indirect taxation) (155 Points)

18 May 2009

Is turnover tax an indirect tax? And it has been abolished on introduction of VAT?

This sudden doubt due to the reason that I have seen one of my clients' client charging TOT in the bill for material supplied to my client.

How is this possible?

Reply
Follow
Share

2 Replies

venu (article student) (29 Points)
Replied 19 May 2009

Originally posted by :CA Shilpi Jain
"	Is turnover tax an indirect tax? And it has been abolished on introduction of VAT? This sudden doubt due to the reason that I have seen one of my clients' client charging TOT in the bill for material supplied to my client. How is this possible?	"

venu (article student) (29 Points)
Replied 19 May 2009

Originally posted by :CA Shilpi Jain
"	Is turnover tax an indirect tax? And it has been abolished on introduction of VAT? This sudden doubt due to the reason that I have seen one of my clients' client charging TOT in the bill for material supplied to my client. How is this possible?	"