What is the turnover in kerala vat
Querist : Anonymous
whether he is liable for audit(audit limit is 60 lakh of total turnover)..?because “Turnover” means the aggregate amount for which goods are either “bought” or sold(definition is same in many state VAT Acts),…… and in this case his turnover is 60+40=100 lakhs. is it correct..?pls explain.
If he is not liable(ie turn over took as 40 Lakhs) please tell me what is the meaning of word “bought” in the definition..
and whether purchase of goods bought would be considered as turnover in any other context along with sales.
Please help me with any case law if there.
Querist : Anonymous
Querist : Anonymous
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