Ad free CAclubindia and daily updates on your mobile. Subscribe Now!

Aggregate Turnover

Krishna (Assistant) (656 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 ????

Reply
Follow
Share

2 Replies

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

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

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

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.