Turnover Calculation method

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51 Points Posted on 17 June 2020
While calculating the Turnover for the small taxpayers, Should they follow the gross method or net off position method? With Tax or without Tax?
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On 17 June 2020 at 14:17 Report
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This discussion explores the correct method for calculating turnover for small taxpayers. It questions whether to use the gross or net method and whether to include taxes. The general consensus is that turnover on a profit and loss account should exclude taxes and duties. It also touches upon how to calculate turnover if books of accounts are not maintained.

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8 Points Posted on 17 June 2020
In profit and loss account, Turnover will be always shown of excluding any kind of taxes or duties.
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On 17 June 2020 at 14:27
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51 Points Posted on 17 June 2020
What if he does not maintain his books of accounts?
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On 17 June 2020 at 14:29

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