Question
Which of the following is incorrect when calculating the
turnover of an enterprise for classification as micro, small, or medium? ÂSolution
Calculation of Turnover Â
- Export of goods or services will be excluded at the time of calculation of turnover of an enterprise. Â
- Turnover will be calculated based on linked income tax returns and GST portals. Â
- In the case of New Enterprise, t urnover will be based on Self Declaration, and from the 2nd year onwards, it will be Linked t o Income Tax Return and GSTIN. Â
- PAN and GSTIN are mandatory for turnover calculation after 31st March 2021 Â
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