Turn over

Turnover

CST Act defines turnover [s.2(j)] as follows:

"Turnover used in relation to any dealer liable to tax under this Act means the aggregate of the sale prices received and receivable by him in respect of sales of any goods in the course of inter State trade or commerce made during any prescribed period and determined in accordance with the provisions of this Act and the rules made thereunder ".

State laws follow the definition with various inclusions and exclusions. Broad details are contained in the following paragraphs.
For the Levy/ calculation of limits the relevant concepts as may have been defined are:

Turnover
Total Turnover
Taxable Turnover

Turnover means aggregate sale price or purchase price of goods sold/purchased.
In case of works contract, Turnover could be:

Purchase price of goods used
Contract price less deductions for services and other charges
Contract price.

Sale price/Purchase price defined to mean:

consideration for goods
charges for doing something to goods at/before delivery
Adjusted for:
- Exclusion of insurance, freight, installation cost as charged
- Trade discounts, returns etc.
- Such other items as may be /have been specified.

Total Turnover means aggregate turnover of all goods whether exempt or otherwise.

Taxable Turnover - turnover on which tax is payable – computed as per: