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calculation of turnover

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(Querist)
06 March 2017 i have doubt on calculation of turnover. for example my purchase( excluding vat) 2400000 and sales (excluding vat) 2700000. input tax ( VAT) 400000 and output tax ( VAT) 450000. so now my doubt is how to calculate turnover. turnover includes total sales and excess VAT I paid or sales and total output VAT I paid ???
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Sandeep Dharar

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Sandeep Dharar (Expert)
07 March 2017 Turnover means actual sales and it should not include any government duties & taxes.
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SRI SRINIVAS

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SRI SRINIVAS (Querist)
07 March 2017 for income tax purpose can consider VAT or not ??
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Sandeep Dharar

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Sandeep Dharar (Expert)
07 March 2017 for all
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SRI SRINIVAS

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SRI SRINIVAS (Querist)
07 March 2017 OK thank you
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 October 2021 Only under presumptive assessment under Income Tax act, the turnover is inclusive of all such taxes.
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