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Turnover

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11 September 2012 A Pvt Ltd. Co. has net turnover of Rs. 92 crs. net of Excise and VAT. The amount of Excise and VAT is 10 crs. and 7 crs. respectively. The company wants to show only net turnover of Rs. 92 crs. in the profit & loss statement.

1. Is is allowed?
2. Whether XBRL reporting is necessary in this case?
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CA. Vikash Dwivedi

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CA. Vikash Dwivedi (Expert)
12 September 2012 the sale in the income statement is shown net bot xcise but disclosure is compulsory. like Sales less Xcise
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