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TMI BlogTurnover for Section 44ADX X X X Extracts X X X X X X X X Extracts X X X X ..... Turnover for Section 44AD X X X X Extracts X X X X X X X X Extracts X X X X ..... of 'Turnover' for the purpose of section 44AD? Does it include GST for the purpose of calculating 8% / 6% profit and ceiling limit of 2 crore? Thanks & Regards Bipin Reply By DR.MARIAPPAN G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... OVINDARAJAN: The Reply: In my view it is to be included. To the best of my knowledge there is no exemption given for this. Reply By Bipin Parmar: The Reply: Thank you sir for your reply. I agree w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith your answer but I am unable to justify the grounds when I compare this opinion with the guidance note on Tax audit which excludes indirect taxes while calculating turnover. Reply By DR.MARIAPPAN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GOVINDARAJAN: The Reply: The Guidance Note on tax audit issued by ICAI indicates that If sales tax and excise duty are included in the sale price, no adjustment in respect thereof should be made for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considering the quantum of turnover. If we take this analogy GST is not to be included. Reply By Bipin Parmar: The Reply: I appreciate your reply. Kindly clarify the below mentioned contradict prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ision stated in the guidance note on Tax audit, section 8A(1) of the Central Sales Tax Act provides that in determining turnover, deduction of sales tax should be made from the aggregate of sales pric ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e.
Thanks & Regards
Bipin X X X X Extracts X X X X X X X X Extracts X X X X
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