Turnover
This query is : Resolved
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?
1. Is is allowed?
2. Whether XBRL reporting is necessary in this case?
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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