AS-17........
This query is : Open
Parth Adeshara
(Querist)
30 June 2011
Should we take sales above rs. 50 crores including excise & vat or not ????????????
CMA Ramesh Krishnan
(Expert)
30 June 2011
Turnover means excluding the Excise and VAT only. so do not include that
ACMA Obulirajan R
(Expert)
01 July 2011
Dear Ramesh,
As per my understanding turnover refers only exclusive of VAT. Please confirm.
As per my understanding turnover refers only exclusive of VAT. Please confirm.
CMA Ramesh Krishnan
(Expert)
04 July 2011
Hi.
AS-17 is not defining the exact term of turnover. but most of the accounting interpretations and taxation terms like Income tax and other direct tax defining the turn over excluding the excise duty also.
so i stand in my position as turn over excludes excise duty also.
i am keeping open this query for other experts opinion
AS-17 is not defining the exact term of turnover. but most of the accounting interpretations and taxation terms like Income tax and other direct tax defining the turn over excluding the excise duty also.
so i stand in my position as turn over excludes excise duty also.
i am keeping open this query for other experts opinion
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