Aggegrate Turnover

Rate / HSN codes 187 views 6 replies
Interest received on Fixed deposit is included while calculating aggegrate turnover as the same shall be treated as exempt supply
Replies (6)
No... GST not applicable for the FD interest. Also it's not calculated in aggregate turn over.
Sir
FD interest is not a Non GST , it's exempted by notification so it' is included for calculation aggregate turnover

As section 2 CGST act
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 all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess.
Thank
Oh God....

I don't know section, law and rule. But, The above said Interest it's not calculated in aggregate turn over. Bcoz, Not Supply...


If You Once again reply the same as its calculate in aggregate Turn Over.... 👇

"Okay Bro Enjoy"
Sir
with Due Respect

But in section 2(6) CGST ACT define aggregate turnover

6] "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 all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess;

if some one shows the less value in 3b but actual are shown in gstr1 tax has been paid according to 3b . how can we correct 3b as per gstr1  ex 3b  outward supply-1000.00 paid tax 50.00

                       gstr1                     -2000.00 paid tax 50.00 but liabilit as per gstr1 100

any option available  before gstr3


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