clarification on 20 lakh limit

182 views 5 replies
Client has a

1) rental income of 70000 p month
2) sell horse for rs 800000


Will rental income 840000 be added in computing turnover of 20 lakh limit

🙏🏻🙏🏻😊
Replies (5)

Yes. It will be considered in turnover. Please refer to the definition in Section 2 (6) of the CGST Act,2017. It is definition of "aggregate turnover".

“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;

thanks dear

🙏🙏😊

Most welcome Mr.Sandeep.

many many thanks for sparing your valuable time

GOD bless you

🙏🙏

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