Dear All,
What is turnover means? Does it mean Gross turnover or Net turnover? Does it include VAT, CST, Excise Duty or not ?
Thanks in Advance
Menu
Turn over
Replies (1)
| Turnover |
|
CST Act defines turnover [s.2(j)] as follows: "Turnover used in relation to any dealer liable to tax under this Act means the aggregate of the sale prices received and receivable by him in respect of sales of any goods in the course of inter State trade or commerce made during any prescribed period and determined in accordance with the provisions of this Act and the rules made thereunder ". State laws follow the definition with various inclusions and exclusions. Broad details are contained in the following paragraphs. For the Levy/ calculation of limits the relevant concepts as may have been defined are:
In case of works contract, Turnover could be:
Taxable Turnover - turnover on which tax is payable – computed as per:
|
Recent Topics :
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
Related Topics :
CAclubindia
