Answer Posted / muhammad aamir razzaq

Sales OR Sales Revenue = (Sales Price)*No of products sold
in specific time period

Turnover = How many times a company's products sold in a
specific time(usually a year). It can be how many times a
product is sold in a specific store in a year(in this case
we will say this product has turnover of 1000 times in this
store)

Sales Turnover= (Sales Price)* (No of products produced/
purchased and disposed off the company's warehouse, may be
on credit, may be some products damaged/in retail-shops,
some sold on discounts or promotions by retailors, some
promoted as 1+1 offers...)

This mean a company's Sales turnover can be "Equal to" OR
"GREATOR than" its Sales Revenues.

Example:
Mr. A is selling oranges and bananas. He eat himself 1
dozen bananas, and 1 dozen orange he give to poor for free.
Now Sales turnover also counts What he eat and what he give
to poor, BUT Sales Revenue will only count what is sold for
exchange of money.

what is assessment? how many types of assessment will be there? and what is the documents and preparations for sales tax, service tax assessments??

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Expand---------MRDT

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