Hi Friends,
I would like to know that consideration of Aggregate Turnover for FY 21-22.
Sales Of Goods 12 Crores, Raised Debit Note against reimbursement 8 Crores, so total revenue is 20 crores.
Shall we consider Sales of Goods & Reimbursement Dr Note for Aggregate Turnover or only Sales of Goods?
4 Replies
CA. Abhilash Krishnan P
(Chartered Accountant)
(533 Points)
Replied 26 April 2022
Is it reimbursement of actual expenses incurred while supplying the goods??
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 26 April 2022
As per the definition of aggregate turnover prescribed in section 2(6) of CGST Act & R/w Section 15(2)(b) , you need to add reimbursement expenses for computing aggregate turnover.
Note : Reimbursement of expense in capacity of pure agent is not included in aggregate turnover.
Note : Reimbursement of expense in capacity of pure agent is not included in aggregate turnover.
Mohanraj J
(1178 Points)
Replied 27 April 2022
Abhilash ji, we made reimbursement for medicine Batch Testing. We do medicines testing what are all the expenses incurred we are making reimbursement DR Note.
pankak ji: thanks
pankak ji: thanks
CA. Abhilash Krishnan P
(Chartered Accountant)
(533 Points)
Replied 27 April 2022
Refer valuation rule 33 of cgst act..if you satisfy the conditions mentioned in rule 33 then it is eligible to be excluded from aggregate turnover
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