Turnover for tax audit
This query is : Resolved
12 September 2012
A firm is running authorised service center for mobile repair and having labour income of Rs. 20 lacs. Further the firm has claimed free replacement of parts under warranty from the company amounting to Rs. 80 lacs plus VAT. No receipt is made from customer for free replacement of parts under warranty.
I am seeking your opinion, whether the claim of free replacement of parts from the principal company will be part of turnover for the purpose of TAX audit of the firm.
I am seeking your opinion, whether the claim of free replacement of parts from the principal company will be part of turnover for the purpose of TAX audit of the firm.
13 September 2012
Yes. This receipt against free replacement will be clubbed while calculating your total receipts.
13 September 2012
Yes. as it is is Turnover for the company. Customer can be mobile company also.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
