Can someone please help me to know what to include to Calculate the Aggregate turnover for last FY?
I am going to file new GSTR1 for this FY 2019-20.
Is aggragte turnover means the total taxable sale value for the entire FY 2018-19?
I am giving service to a interstate company an raise GST invoice every month.
Menu
How to Calculate Aggregate TurnOver for GST
Replies (7)
sir please refer section 2 (6) the definition of aggregate turnover. which includes exempt supplies along with the taxable supplies excluding tax paid on reverse charge basis. it also includes export made
Aggregate Turnover will include taxable as well as exempt supplies made
I do not have any export,exempt supply . I only have interstate service supply . so I only add all the taxable invoice value ( exclude tax from it) to calculate the aggregate Turnover ,right ?
Also please confirm if value of inward supply are excluded from Aggregate turnover ? (I know inward supply value under RCM are excluded) but what about those which does not fall under RCM . I am asking about normal inward supply of services and goods ?
| Originally posted by : abhishek bardia | ||
 |
sir please refer section 2 (6) the definition of aggregate turnover. which includes exempt supplies along with the taxable supplies excluding tax paid on reverse charge basis. it also includes export made |  |
does ATO exclude value of inward supply of services and goods ?
it excludes inward supply under RCM . but what about value of inward supply which does not fall under RCM ?
yes you are right you will include inter state service supply for calculating aggregate turnover.
yes sir for calculating aggregate turnover inward supplies are not to be included. please correct me if i an wrong.
yes sir for calculating aggregate turnover inward supplies are not to be included. please correct me if i an wrong.
it is not included
so inward supplies are not included , thanks.
Recent Threads
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
Related Threads
CAclubindia
