Turnover defination
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2014
one of the my client had Gross t/o of Rs 62 lacs & net t/o was Rs 58 lacs in 2010-11.I didnt do vat audit as his net t/o is below 60lacs.Now sto has issued notice for non filing 704.Now sto says that turnover means gross t/.is it correct ?.If not then in which section/notification turnover is defined
12 June 2014
yes it means gross turnover and not net....sto is correct.
Arpit Shah
(Expert)
09 December 2015
https://taxguru.in/company-law/turnover-companies-act-2013-trajectory-cash-basis-accounting.html
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