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Showing contexts for: turnover decrease in Jypore Manufaturing Jewellers Pvt. ... vs Assessee on 22 January, 2016Matching Fragments
knowledge that increase turnover is achieved with decrease in margin of profit. Hence the GP rate was low.
(b) It would be seen from the aforesaid table that trading results vary from year to year. This is because the jewellery market is globally governed. Hence the margins of profits vary as the same are not in the hands of the assessee. It is also worth noticing that the GP rate disclosed during the year is better than Assessment Year 2004-05 to 2006-07 and it is only lower in comparison to Assessment Year 2007-08 the same is because of the increase of turnover.