Aggregate Turnover

187 views 5 replies

Sumaiya Khan

3 Points Joined 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.

Replies (5)

upasana gupta

Finance Professional

3931 Points Joined May 2015

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

Ahmed Ali

388 Points Joined February 2016

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 Joined October 2007

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 Joined 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...