The answer seems to be wrong as the sale of investment is not excluded from turnover … is my understanding right?

1 answer

Ravi Staff April 5, 2018

In tax audit problems, whenever they give turnover , generally it means Qty x Std Rate
So given TO = Qty x Std Rate
no keep this in mind while deciding whether to deduct or not. 
if you take this as base, you will realise to need to deduct sale of investment as it was never included.
such base is generally taken, irrespective of whether they say TO is before adjustments and bla bla


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