Dear All,
Wheher the term "Gross Turnover" includes written back incomes also as concerned to VAT-240? For instance, assume that i have made provision for Salary in the PY & during the year i have written it back as it is not payable anymore. So in this case, whether the gross turnover includes those written back income also??
Plz clarify me.
Thanks & Regards
Sowmya S
Madam,
If i'm not wrong you are talking about Karnataka VAT.
From the above query, as far as i'm concerned VAT includes only Sales & Purchase.
Gross Sales means your total sales what you have made, plus tax. But does not include Returns.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
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