Insurance Claim in loss of profits

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Crishna Creasta (Querist)
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10 June 2017 Suppose fire occured on 01/07/2014 and indemnity period is 2 months. while calculating GP on annual turnover, From which date to which date will be tha annual turnover ???

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 June 2017 Annual turnover will be From 01/07/2013 to 30/6/2014

Crishna Creasta

Crishna Creasta (Querist)
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11 June 2017 How to calculate GP on annual Turnover ? Pz explain with reasons

Crishna Creasta

Crishna Creasta (Querist)
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11 June 2017 Actually I am getting confused in Increasing Trend. Will we add add increasing trend in Annual Turnover or only that part of turnover which is of previoud year????

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 June 2017 Trend is added if given in ques or past years sales show equal increase %

Crishna Creasta

Crishna Creasta (Querist)
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11 June 2017 Thank u Mam. means if there is equal increasing trend , then we add trend on Annual Turnover and finally calculate GP??

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 June 2017 Yes you are correct.

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