Disclosure of Revenue from Sales
This query is : Resolved
24 May 2011
As per ASI 14
The amount of turnover should be disclosed in the followingmanner on
the face of the statement of profit and loss:
Turnover (Gross) XX
Less: Excise Duty XX
Turnover (Net) XX
In case of service industry,
the turnover of the Organization should not be disclosed as gross i.e inclusive of services tax
anyone can help me out in this situation
The amount of turnover should be disclosed in the followingmanner on
the face of the statement of profit and loss:
Turnover (Gross) XX
Less: Excise Duty XX
Turnover (Net) XX
In case of service industry,
the turnover of the Organization should not be disclosed as gross i.e inclusive of services tax
anyone can help me out in this situation
26 May 2011
You can show as
Turnover (Gross) XX
Less: Service Tax XX
Turnover (Net) XX
Turnover (Gross) XX
Less: Service Tax XX
Turnover (Net) XX
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