Whether sales tax, excise duty and vat are included in turnover for the purpose of checking turnover limit u/s 44AB?
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Tax audit
Replies (5)
This depend on the accounting entry if we have done on the Gross basis then we consider it otherwise we can take net basis
for more details we can read definition of Turnover under Guidance note on Tax Audit .
Sales Tax, Excise Duty & VAT is not included in turnover, it is to be deducted from gross sale
Not included
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