Meaning of turnover for a service provider for tax audit
This query is : Resolved
28 July 2012
The company is engaged into radiography services. It charges service tax. It's turnover excluding service tax is rs. 57 lakhs for the A.Y. 2012-13. However if we include the portion of service tax (which is shown separately in books of accounts) , the turnover will cross the limit of 60 lakhs and tax audit would be required.
What will be its turnover for the purpose of audit. Will the amount of service tax. Be included for calculating the turnover.!
What will be its turnover for the purpose of audit. Will the amount of service tax. Be included for calculating the turnover.!
CA Hardik Bunha
(Expert)
28 July 2012
Service tax will be included in turnover.
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