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Gross Profit

This query is : Resolved 
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(Querist)
19 March 2020 Dear Sir,

In previous year 18-19 in books of account my GP Was 8.90% and NP was 4.31% in this current year 2019-2020 My Gross profit is 8.96 and NP is 4.34%.
Can we face any problem
Please guide to us
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Eswar Reddy S

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Eswar Reddy S (Expert)
19 March 2020 If the net profit is less than 8%/6% of turnover then you must audit your books of accounts.. There is no problem in increase or decrease in profits but it should comply with tax audit provisions
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Sumit Arora

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Sumit Arora (Querist)
20 March 2020 Thank you Very much Sir,
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