Question 1

What is a turnover certificate and when is it required?

Accepted Answer

A turnover certificate is a CA-certified document confirming the gross annual revenue of a business for one or more financial years. It is required for tender eligibility (where a minimum turnover threshold must be met), bank loan applications, MSME and Udyam scheme benefits, GST refund claims, and government procurement registration.

Question 2

Can turnover be certified based on GST returns instead of audited accounts?

Accepted Answer

Yes. For businesses without audited accounts — particularly smaller businesses or those in their early years — turnover can be certified based on GST returns (GSTR-1 and GSTR-3B) and bank statement receipts. BSP Associate cross-verifies all available records and certifies accordingly.

Question 3

Should the turnover certificate show GST-inclusive or GST-exclusive amounts?

Accepted Answer

This depends on the requirement of the requesting authority. Tenders and government schemes typically require turnover exclusive of GST (net of tax). Some banks accept GST-inclusive figures. BSP Associate checks the specific requirement and discloses both figures in the certificate with a clear note to avoid any ambiguity.

Question 4

Can a turnover certificate be issued for a partial year?

Accepted Answer

Yes. If the tender or authority requires turnover for a specific period — such as April to December — BSP Associate can certify turnover for that period based on available GST returns and books of accounts.

Question 5

How quickly can a turnover certificate be issued?

Accepted Answer

A turnover certificate can typically be issued within 1–2 working days from submission of documents. For tender deadline emergencies, same-day issuance is available.

Turnover Certificate

What's Included

Documents Required

Frequently Asked Questions

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