please clear me difference

659 views 3 replies
hello Wat is the difference between gross annual turnover and taxable turnover
Replies (3)

gross sale include all sale....that is exempt sale, zero rated sale, and other exempt sale...

but taxable sale include only that sale which is taxable.....it does not include zero rated sale and exempt sale.

The difference is clearly visible if you compare the definitions given in the VAT Act concerned. In Section 2 which is the definition section, you can find the definitions of the "turnover" which is nothing but the Gross Turnover and if it is for the period of one accounting year, then it is called "Gross Annual Turnover". The definition of taxable turnover is also there.

But how to calculate the taxable turnover and the Gross Turnover could be seen in the Rules of the concerned State. Please refer Rule 3 which deals with  the calculations, exemptions and deductions. First calculate the Gross Turnover and then start deducting one by one to arrive at the Taxable Turnover.

thnx to both of u .. I got it


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details