about turnover

turnover means total sales.

which audit u r talking abt.

Turn over includes sales. It has a broader meaning. It has various meanings under various acts. If you talking about the tax audit, then the turnover should exceed Rs.40 lakhs.

Gross receipts includes, besides sales, VAT and CENVAT and other receipts from business activities.

hi all,

Does turnover include loss on account of demolition of partly constructed project for builder and writting back of expenses from WIP A/c on account of demolition?