If an assessee is engaged both in retail/wholesale and also providing services. Then what should be the meaning of "Turnover" in calculating the ratios in the form 3CD, especially ration of Stock-in-Trade/Turnover.
Please guide.
3 Replies
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 10 October 2010
Interesting question.
Thats bring me to a q. How stock turnover is is calculated in case of "Service" entity.
Dr. Paras Jain
(Chartered Accountant)
(1238 Points)
Replied 11 October 2010
yes.Judicially decided that turnover wil include receipts
Mayur Arora
(CA Final)
(295 Points)
Replied 11 October 2010
Dear Abhishek,
I think STR will be calculated taking into consideration of receipts of Services.
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