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Total turnover formula12/12/2023 A is required to register under GST because his aggregate turnover exceeds the threshold limit of Rs. ![]() Going by the definition of aggregate turnover, Mr. In simple words, his taxable turnover is only Rs.5 lakhs. His turnover from the sale of plastic bags is Rs.5 lakhs and we know that this transaction (sale of plastic bags) is chargeable to GST. A also supplies plastic bags along with his crop and charges separately for this. A owns a tea estate with an annual turnover of Rs.1.60 crore by selling tea leaves. Here’s an example to help you understand the concept of aggregate turnover. Example for Normal Category States under GST However, it excludes stock transfers and taxes such as CGST, SGST, UTGST, IGST, and cess. It includes the aggregate value of all taxable supplies (excluding inward supplies on which tax is payable under reverse charge mechanism ), exempt supplies made within the state/Union Territory, exports of goods or services, and inter-state supplies of goods or services made from the state or Union Territory by the said taxable person. However, the composition levy would be calculated on the basis of turnover in state. The aggregate turnover at PAN level is required to calculate the threshold limit for GST registration as well as eligibility for the composition scheme. It refers to the turnover of an entity effected within a particular state. Turnover in State is different from the aggregate turnover definition. Note that the sales that are subject to reverse charge must continue to form part of the taxable supplies in aggregate turnover. Further, the taxable value excludes those purchases where the person is required to pay tax under reverse charge. However, the above sum excludes the tax components such as the Central tax, State tax, Union territory tax, Integrated tax and Cess.
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