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Aggregate turnover in the preceeding year - gstr1

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(Querist)
10 October 2017 Hi,

For filing GSTR1, we may need to capture the aggregate turnover of previous financial year.

Can anyone advise me what is the treatment of credit notes [sales return] in this scenario? We have sales and sales return, which one of the following need to be considered as an aggregate turnover?

a.Sales Value - Sales Return = Net Turnover ? Or
b.Gross Turn Over = Sales Value only

Please reply.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
10 October 2017 You have to considered net turnover i.e. Sales after deducting Sales Return.
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anshul aggarwal

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anshul aggarwal (Expert)
10 October 2017 It is net turnover. also I think this aggregate figure is being asked to just get an idea of total turnover to see in which bracket business falls like a new 1.5cr limit has come under place in 6th Oct meeting. There will be no matching of exact figures till your bracket is not changing.
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