Turnover defined as gross revenue from sales and services, not merely production or imports, for company accounts. Turnover means the gross amount of revenue recognised in the profit and loss account from sales, supply or distribution of goods, or from services rendered, by a company during a financial year. Production and import values do not, by themselves, constitute turnover; they may be used only to estimate sales where reliable sales data are absent, subject to allowances for wastage and unsold stock.