vat turnover vs gst turnover
Query (Issue) Started By: – jeeshan ali Dated:- 23-12-2018 Last Reply Date:- 25-12-2018 Goods and Services Tax – GST
Got 2 Replies
GST
One of my client was switched himself from vat regular to gst composition on 1.8.17 while his turnover of preceding fy under vat was 104 lakhs.
hence my point is whether turnover under vat to be consider as aggregate turnover under gst.
Definition of aggregate turnover as per section 2(6) of cgst act is "aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of person
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