Concept of Aggregate Turnover in GST
Registration – GST Ready Reckoner
GST
Aggregate Turnover
\nConcept of Aggregate Turnover in GST
\n * Turnover, in common parlance, is the total volume of a business. The term 'aggregate turnover' has been defined in GST law as under:
\nAggregate Turnover [ As per section 2(6) of CGST Act, 2017 ]
\n Aggregate turnover is computed on all India basis for a person having same Permanent Account Number (PAN). It is sum of value of all outward supplies falling in the following four categories:
\n * Taxable supplies
\n * Exempt supplies
\n * Exports of goods or services or both
\n * Inter-state supplies.
\n but excludes
\n * the value of inward supplies on which tax is payable by a person on reverse charge basis <\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ed u\/s 2(78); such as, specified petroleum goods and alcoholic liquor for human consumption. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Concept of Aggregate Turnover in GSTRegistration – GST Ready ReckonerGSTAggregate Turnover Concept of Aggregate Turnover in GST * Turnover, in common parlance, is the total volume of a business. The term 'aggregate turnover' has been defined in GST law as under: Aggregate Turnover [ As per section 2(6) of CGST Act, 2017 ] Aggregate turnover … Continue reading “Concept of Aggregate Turnover in GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16296","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/16296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16296"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/16296\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n * However, registered person, who is engaged in making any supply of goods which are non taxable(i.e. petroleum product & alcoholic liquor for human consumption) under this act who is not eligible to opt for composition scheme.
\n"Turnover in state" or "Turnover in union territory"
\n * "Turnover in state" or "Turnover in union territory" means the aggregate value of
\n * all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis),
\n * exempt supplies made with in s state or union territory by a taxable person,
\n * export of goods or services or bo<\/p>\n
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