11 September 2012
A Pvt Ltd. Co. has net turnover of Rs. 92 crs. net of Excise and VAT. The amount of Excise and VAT is 10 crs. and 7 crs. respectively. The company wants to show only net turnover of Rs. 92 crs. in the profit & loss statement.
1. Is is allowed? 2. Whether XBRL reporting is necessary in this case?
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