Whether sales tax, excise duty and vat are included in turnover for the purpose of checking turnover limit u/s 44AB?
Menu
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
Recent Threads
- Section 194T – TDS on Payments to Partners:
- Tax planning with HUF
- FCN ( Financial Credit Notes) Treatement in Books
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
Related Threads
CAclubindia
