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Turnover Certificate
What is a Turnover Certificate?
A turnover certificate is an official document that certifies the total turnover of a business entity for a particular financial year or multiple years. It is typically based on the entity’s audited financial statements, GST returns, or income tax returns. This certificate serves as proof of the business's financial performance and is often required by banks, government agencies, and other entities for various purposes.
Common Uses of Turnover Certificate
Turnover certificates are commonly used for:
- Loan Applications: Banks and financial institutions often require a turnover certificate to assess the financial health of a business before granting loans.
- Government Tenders: Many government contracts and tenders require proof of turnover to ensure that the bidding entity meets the eligibility criteria.
- Tax Compliance: It helps in validating tax filings and compliance with GST regulations, ensuring that businesses meet their tax obligations.
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