Dear All,
My client is a mobile recharge distributor. He is doing recharge of Rs 2 L daily. Also giving cheque to the company for the recharge in his firms account from his current account. He is receiving commission of 1.7 % on the recharge amount So my question is that 1) Is this type of turnover considered as sale and have to do tax audit ? or only commission is calculated as turnover ?
The whole recharge amount will counted as turnover .
You will take the bill for recharge amount from company as purchase & raise bill of sale for amount you recharge
Yes it will consider as sale /supply
CAclubindia
