Turnover ratios

As per my knowlege they should be calculated on net sales only!!!

Ther's no accounting standard as such for calculating the  Turnover Ratios.  However Sales means Sales less Excise duties & any other taxes that are recoverable from taxing authorities.

I dont know how COGS shud be considered for calculating the turnover ratios.  As the turnover ratios are based on Sales as per P&L Account.