Hi
My client is transport commission agent. He is arrange vehicles from sub brokers or lorry owners attached to us and supply the vehicles to transporters (GTA).
The transporter pays us the freight agreed. He is inturn make the payment to sub broker or lorry owner against a cut or commission.
Let's say he is hired a vehicle for 25000/- from a sub broker / lorry owner and supply to a GTA for 27000/-. The transporter pays us and we pay the sub broker / Lorry owner.
So we earn 2000/- which is our commission income. Our query is will the 27000/- amount be considered our turnover or not.
Please reply ASAP
CAclubindia
