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Aggregate Turnover for Registration under GST
If a trader involves in business of olive oil and Petrol and turnover from both respective is 16 lakhs and 14 lakhs. Is it required to get himself registered under CGST act? If yes, then why?
Replies (4)
yes.. he is required to get registration since his aggregate turnover exceeds 20 lakh.
although petrol is non taxable and out of gst regime but still as per defination of aggregate turnover, all supply including exempt supply (which include non taxable supply also) should be added to compute 20 l threshold.
although petrol is non taxable and out of gst regime but still as per defination of aggregate turnover, all supply including exempt supply (which include non taxable supply also) should be added to compute 20 l threshold.
u can refer defination of exempt supply which specifically includes non taxable supply..
Hope u understand.
Hope u understand.
and the inclusion s of Aggregate Turnover definition
But petrol is a non gst goods then how can we include it in aggregate turnover because excise and vat are continuing on petrol. So how can we treat petrol is a exempted good?
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