MVAT-Definition of Turnover
This query is : Resolved
18 January 2010
Hi Expert, Whether Commission should be included in sale turonver for the purpose of registartion of dealer (5,00,000-Sale turover)under MVAT ACT? Brief Background:Assesse a distributor (Say B) is purchasing goods from registered dealer (Say A).Assesse (B) is having another distributor under him (Say C). Now as per agreement between B and A, A will pay commission amount (differential profit margin of B and C) to B for any purchase made by C from A.
As per my notion Commission should not be included nor turnover of C in B's turonver? To clarify more C is also a distributor of A now but with lesser profit margin. Please advise
Please reply urgently..thanks in advance!!
As per my notion Commission should not be included nor turnover of C in B's turonver? To clarify more C is also a distributor of A now but with lesser profit margin. Please advise
Please reply urgently..thanks in advance!!
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