Nareshv and Associates

Turnover Certificate

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Steps

1. Fill out the Form

Filling out the form is quick and easy and will provide you with numerous benefits in the long run. By this, you will be able to get consultation from our nareshv & associates CA/CS and will be able to get Guidance. So, why wait? Take the first step towards a bright future for your business and fill out the form today.

2. List of Documents Required

Requirement of Turnover certificate

A turnover certificate can be required by anybody who wishes to get an assurance on the turnover of the entity in question.

Following are some illustrative cases where turnover certificate might be required:

For Participation in tenders issued by various companies, local authorities & institutes

By Banks & financial institution for the purpose of loan

By Investors for the purpose of funding an existing or new project/business

3. What information will be included in the turnover certificate?

The contents of the turnover certificate in India will depend on the requirements and the purpose for which the turnover certificate is being produced. A basic turnover certificate includes the following information:

Name and details of the business entity

Registration details

Period for which the turnover is stated

Purpose of the turnover certificate

Details of the practicing professional

UDIN

Any other information as required.

4. Procedure

The process to obtain a turnover certificate in India is very simple :

Submit the documents as per the Checklist

Documents are verified by the CA

A Draft copy of the turnover certificate is shared

Once the draft is approved a final certified copy is issued by the Chartered Accountant

5. Importance of Turnover Certificate

A turnover certificate is important as it provides proof of a business's financial performance, helps establish credibility and trust with stakeholders, can be used for taxation and loan applications, and is often required for government tenders and contracts.

6. Validity

The validity period of a Turnover Certificate may vary depending on the purpose for which it is being used. It is always recommended to check with the relevant authorities or parties for any specific validity period or renewal requirements.

Turnover certificate

What is Turnover certificate?

A turnover certificate is a factual statement that certifies the turnover of the entity based on the requirements. The turnover certificate in India assures the users that the turnover generated by the business entity during a specific period. A turnover certificate is issued by the Chartered Accountant. This certificate certifies the total turnover of the applicant’s organization. The turnover can be for 1 or more years depending on the requirements. This turnover is in the name of the organization’s applicant and not that of a group or sister organization

Frequently Asked Questions

1. In India, Who Has The Authority To Certify A Turnover?

In India, a turnover certificate is a document that guarantees to the user the amount of money a business entity has made in sales. The turnover certificate is issued by a practising chartered accountant specialising in doing so.

2. Who can issue a turnover certificate in India?

The turnover certificate in India is a certificate that provides an assurance certificate to the user about the turnover of a business entity. It is issued by a practicing Chartered Accountant who is specializing in issuing the turnover certificate.

3. How do you verify turnover?

Find the cost of goods sold on the income statement. On the balance sheet, locate the value of inventory from the previous and current accounting periods. Add the inventory values together and divide by two, to find the average amount of inventory. Divide the average inventory into COGS to calculate inventory turnover.

4. Is CA certificate without Udin valid?

It is mandatory to obtain UDIN for all Certificates* issued where the Financial Information/related contents is certified as True and Fair / True and Correct.

5. How long is Udin valid for?

UDIN is a unique number being generated on the UDIN portal for every certificate and such other documents that have been attested by a CA. 7. What is the validity of UDIN? Time limit for generation of UDIN has been extended from 15 days to 60 days.