TaxTMI 
TaxTMI 
Turnover for Section 44AD
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....urnover for Section 44AD<br> Query (Issue) Started By: - Bipin Parmar Dated:- 28-8-2018 Last Reply Date:- 29-8-2018 Income Tax<br>Got 4 Replies<br>Income Tax<br>Dear Experts, What is the definition o....
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....f '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 GO....
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....VINDARAJAN: 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 wi....
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....th 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 G....
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....OVINDARAJAN: 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 c....
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....onsidering 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 provi....
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....sion 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 price....
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..... Thanks & Regards Bipin<br> Discussion Forum - Knowledge Sharing ....