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Aggregate Turnover

Krishna (Assistant) (682 Points)

11 June 2018

Whether "Aggregate turnover" under gst includes non gst items ?? For e.g. incase of co.op society "interest received on loans" will include under aggregate turnover ????

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robinghosh (accountant) (180 Points)
Replied 11 June 2018

aggregate means = gst related goods +non gst+nill rated
sec 35(5)

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Vinod Babu (24191 Points)
Replied 11 June 2018

The law says that “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 persons having the same Permanent Account Number, to be computed on an all-India basis but excludes Central tax, State tax, Union territory tax, Integrated tax and cess.