Why the definition matters
"Turnover" isn't the same number in every document. Revenue in the audited profit and loss account excludes GST; the figure in GST returns includes exempt and non-GST supplies differently; and a tender may want turnover from a specific activity only. A certificate that doesn't say which figure it states is easy to reject.
So we read the tender or bank's definition first, certify the figure it asks for, and reconcile it with the accounts and GST returns so that nothing in the file contradicts it.
Documents required
- Audited financial statements for each year to be certified.
- GSTR-1, GSTR-3B and GSTR-9 for the same years.
- Income-tax returns for the same years.
- For a year not yet audited: books of account and a trial balance.
- The tender document, bank letter or format that specifies what's needed.
How we prepare it
Read the requirement
We note the definition of turnover, the years, and any format or wording the recipient insists on.
Reconcile
Turnover in the accounts is reconciled with GST returns and the income-tax return, and differences explained.
Prepare the certificate
The certificate states the figure for each year, the source, and what's included or excluded.
Sign with a UDIN
A partner signs and generates the UDIN.
Practical notes from our engagements
- GST-inclusive figures certified by mistake. Tenders usually want turnover excluding GST. Stating the wrong one can disqualify a bid.
- Group turnover mixed with the bidder's own. Unless the tender allows it, only the bidding entity's turnover counts.
- Unreconciled differences with GST returns. A buyer's team can pull GST data. Differences that aren't explained on the certificate raise questions.
How we handle turnover certificates
We certify from audited accounts wherever possible, reconcile to GST returns, and match the recipient's format. Every certificate we issue carries a UDIN — the Unique Document Identification Number ICAI has required on certificates signed by practising Chartered Accountants since 2019. The recipient can check it at udin.icai.org.
Related services
Frequently asked questions
Can a turnover certificate be issued for the current year?
Yes, from the books of account up to a date, with the certificate saying the figures are unaudited. Many tenders accept only audited years, so check first.
Is turnover stated with or without GST?
Normally without GST, since that's how revenue appears in the accounts. If a format asks for a GST-inclusive figure, we state that clearly.
Can one certificate cover three years?
Yes. Tenders commonly ask for the last three financial years, and one certificate can state each year separately.
Does the certificate need a UDIN?
Yes. Every certificate a practising CA signs carries a UDIN, which the recipient can verify online.
What if the turnover in GST returns differs from the accounts?
We reconcile the two and, where appropriate, explain the difference in the certificate or a covering note.