Sec 44AD
This query is : Open
VIVEK GHANASHAM JOSHI
(Querist)
23 June 2016
Total Turnover for the purpose of sec 44AD is including sales tax or excluding. in trading account the sales is shown excluding sales tax. please confirm..
Murtaza I Bhagat
(Expert)
23 June 2016
Gross receipts or Turnover mean the total collections of the business. The receipts shall be inclusive of VAT & Excise Duty. The receipts shall also include delivery charges as well as receipts from sale of scrap.
Discounts given, advances received and money received on sale of assets should be excluded.
Discounts given, advances received and money received on sale of assets should be excluded.
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Rupesh Jain
(Expert)
23 June 2016
its include vat also, you are not includes vat in the sale the you have to includes.
KAVIRAJA ADDANGADI
(Expert)
23 June 2016
Gross receipt Includes Tax amount collected along with goods or services
VIVEK GHANASHAM JOSHI
(Querist)
23 June 2016
thank you for prompt reply..
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