banner_ad

please clear me difference

651 views 3 replies
hello Wat is the difference between gross annual turnover and taxable turnover
Replies (3)

gross sale include all sale....that is exempt sale, zero rated sale, and other exempt sale...

but taxable sale include only that sale which is taxable.....it does not include zero rated sale and exempt sale.

The difference is clearly visible if you compare the definitions given in the VAT Act concerned. In Section 2 which is the definition section, you can find the definitions of the "turnover" which is nothing but the Gross Turnover and if it is for the period of one accounting year, then it is called "Gross Annual Turnover". The definition of taxable turnover is also there.

But how to calculate the taxable turnover and the Gross Turnover could be seen in the Rules of the concerned State. Please refer Rule 3 which deals with  the calculations, exemptions and deductions. First calculate the Gross Turnover and then start deducting one by one to arrive at the Taxable Turnover.

thnx to both of u .. I got it


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details