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Gross profit and net profit decreased

Others 262 views 3 replies

Kollipara Sundaraiah

B.com

3024 Points Posted on 10 October 2021

A small business person gross profit and net profit mentioned below
f.y.19-20 Gp 15.20 and net profit 13.25 percent
f.y.20-21 GP 14.30 and net profit 12.85 percent declared in it returns
question:
assess GP and NP decreased any problems future in it act.

Replies (3)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 11 October 2021

No problem

Income Tax Wala: (Fin. Expert)

Chartered Accountants

2015 Points Posted on 11 October 2021

as it is a minor reduction hence no issue .

Moreover GP and NP ratio of all business went down due downfall in almost all industry

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 17 October 2021

Yes...

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