Low gross profit ratio as compared to p.y.


CHARTERED ACCOUNTANT CS FINAL

DEAR ALL,

MY CLIENTS GP RATIO HAVE DECLINED TO 3% FORM PAST 8%, ITO WANTS TO CONSIDER IT AT 8% HOW CAN I JUSTIFY THE FALLING GP RATIO OTHER THAN GIVING THE COMPITITION IN MARKET AS EXPLANATION...

CAN U PROVIDE ME WITH CASE LAW WHERE  LOW GP RATIO IS ACCEPTED BY ITO...

IN WHAT CASES CAN AN ITO ACCEPT LOW GP RATIO?..

 
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CHARTERED ACCOUNTANT

Without substantiating your low GP you cannot win. Ask your client why it was lower compared to py and explain the same to the AOP

regards

 
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