How to show Receipts/ turnover in P& L? including taxes or excluding it?
sandeep k. gianchandani
(Practicing Chartered Accountant)
(60 Points)
Replied 01 September 2012
Dear friend
AS override the revised schedule VI and AS-9 states that revenue recognition must be net of the tax and hence the revenue recognition must be done net of tax.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
