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Aggregate Turnover

30 July 2017

this is a question kindly if anybody can give me the answer. if I purchase goods within the state for Rs 30 lacs and supply the goods worth Rs 15 lacs within the state remaining portion lying in stock. in second case if I make purchases of Rs 18 lacs and supply goods worth 21 lacs am I liable for registration in both the cases or in any one case. in nutshell how is aggregate turn over Cal culated.

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5 Replies

upasana gupta (Finance Professional) (3931 Points)
Replied 31 July 2017

Yes you are required to register in GST regime if your turnover is 20 lakh

CASE 1 :If your turnover is 20 lakh means you are selling goods worth Rs 20 lakh which is not,so you are not required to register

CASE 2 : you need to register as your turnover is 21 lakh

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Ahmed Ali (388 Points)
Replied 31 July 2017

Aggregate Turnover is with respect to sale only. On the day you cross your Sales by Rs. 20 lakhs in a financial year, you are liable to get registered.

Siddalingayya (Accountant) (35 Points)
Replied 31 July 2017

Turnover is Consider based on Supply of Goods, further we suggest that in case no.1 If you purchase 30 Lacs worth of Purchase and Paying GST on that, and whatever your Sales of 15 Lacs you are not collecting GST if you are Unregister, further If you take GST registration compulsory on 20 Lacs Turnover now your Case 1 Purchase 30 Lacs GST Credit will not be allowed for your balance Stock of Rs. 30 Lacs - 15 Lacs = 15 Lacs laying with you. As us suggest that it's better to take GST registration right from the beginning and take entire credit of GST which you paid on Purchases.

ezhilvannan m (128 Points)
Replied 31 July 2017

If the turnover exceed 20 Lakhs you are liable for registration....But advise your customer to be registered , because many suppliers are asking GST NUMBER FOR SUPPLY...