DO "TURNOVER" INCLUDE SERVICE TAX?
This query is : Resolved
25 March 2010
Dear Sirs,
For my engineering consulancy firm, if we exclude service tax, my turnover for FY 09-10 is below 10 lacs. Do I have to undergo audit. Note that we show service tax seperately in our invoices. The cheques received from customers is (bill+service tax)-TDS on bill+service tax.
I am getting different views on this matter. Please let me know specific provision / clause in IT rule for clarity.
Thanks and Regards,
YOGESH KELKAR
For my engineering consulancy firm, if we exclude service tax, my turnover for FY 09-10 is below 10 lacs. Do I have to undergo audit. Note that we show service tax seperately in our invoices. The cheques received from customers is (bill+service tax)-TDS on bill+service tax.
I am getting different views on this matter. Please let me know specific provision / clause in IT rule for clarity.
Thanks and Regards,
YOGESH KELKAR
CA Ashok Kumar Sahu
(Expert)
25 March 2010
for this you refer sec 44AB of IT act
in my opinion turnover include taxes also
in my opinion turnover include taxes also
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