AGGREGATE TURNOVER UNDER GST
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 20-12-2016
Scope of 'aggregate turnover' [Section 2(6)]
As per section 2(6) of the Model GST Act, 'aggregate turnover' shall be total of the following amounts or sums in relation to a person carrying on business, i.e., aggregate of the following-
* Value of all taxable supplies of goods and services
* Value of exempt supplies of goods and services
* Value of all goods and services exported
* Value of inter-State supplies
However, aforementioned value of aggregate turnover would exclude taxes, if any, charged under the CGST Act, IGST Act and SGST Act. It will also not include the value of inward supply on which tax is
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s ₹ 2.00 lakhs
* Value of exports ₹ 0.70 lakhs
* Exempt supplies ₹ 0.60 lakhs
* IGST/CGST/SGST paid ₹ 0.20 lakhs
* Aggregate turnover ₹ 4.00+5.00+0.7+0.6 = ₹ 10.30 lakhs.
As per revised model law, value of non-taxable supply shall not be considered while calculating aggregate turnover as it is not provided in definition of aggregate turnover.
Relevance of person having the same PAN
“Person having the same PAN” means all the business entities of a person across India having the same Permanent Account Number (PAN) in Income Tax. For example, if a person is having, say 10 branch offices in different parts of a country under a same PAN filing single income tax return, his turnover for all such off
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y a registered job-worker, after completion of job-work shall be treated as the supply of goods by the 'principal' in terms of section 55 (i.e., Special Procedure for Removal of goods for Certain Purposes) of model GST Law. The value of such goods shall not be included in the aggregate turnover of the registered job worker.
Aggregate turnover under GST v. service taxation
Aggregate turnover under GST regime includes value of all taxable supplies, exempt supplies, export of goods and inter-State supplies excluding taxes and turnover under reverse charge and inward supplies.
While, in service tax, aggregate value means the sum total of value of taxable services charged in the first consecutive invoices issued during a financial ye
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