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Annual aggregate T.O

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mohammad tarique sohail

accountant

155 Points Posted on 29 May 2023

Hello,
April 2022 to feb 2023, we have filed gst return in which taxable value is Rs. 1,43,00,000. In March 2023 we have raised invoices of Rs. 49,20,500 in which gst @ 18% is Rs. 8,67,690. but not taken in march 2023 due to deficiency of funds. March invoices taken in April 2023 Gst returns.
In Annual Aggregate turnover we should taken Rs. 1,42,00,000 + 49,20,500( Rs. 1,92,20,500) or only Rs. 1,43,00,000.
In income tax sales/receipts turnover should consider as Rs. 1,43,00,000 + 49,20,500 ( Rs. 1,92,20,500) or only Rs. 1,43,00,000.

please guide me.

Replies (2)

Quick Summary

This discussion clarifies how to calculate annual aggregate turnover for GST and Income Tax purposes. It addresses a specific scenario where invoices raised in March 2023 were declared in the April 2023 GST returns due to fund limitations. The core question is whether to include the value of these March invoices in the annual aggregate turnover calculation, or only the amount declared in earlier returns. The guidance suggests that the March invoices should be included when calculating the total turnover for the relevant period.

NARENDRA

ACCOUNTS MANAGER

1041 Points Posted on 29 May 2023

Were you not taking those invoices ( march month's ) ??? at the gst portal or in the books ?? You said that the march month's invoices taken in april 23 it means at the gst portal , right ?? If my understanding is correct, then no issue showing those invoices on april 23 but where you were shown ? in B2B or B2BA is the most important . If it is a march month's invoice then you will have to club 1.43 Cr. as far as concerned about the turnover consideration.