Gross turnover of sales

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Querist : Anonymous

Querist : Anonymous (Querist)

01 December 2011 What will be the gross turnover of sales in case of mvat audit in form 704 if the dealer has different vat registration in three different states?

Will gross turnover include the sales of other states or only sales in maharashtra?

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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01 December 2011 Mr. Author,
The MVAT Act itself provides that the terms turnover do not include any sale or purchase carried outside the state,export,in the course of import etc. Therefore,the sales of other branches need not be taken into account for he purpose of MVAT Act.

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