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Turnover concept

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Rajesh Katkar

51 Points Posted on 15 May 2020

please explain me abt turnover
Turnover is value before adding GST or total turnover inclusive OF GST
criteria for new dates of GST
in which it is important
turnover for 2018 -19 or turnover for 2019-2020 which should be considered
our total turnover inclusive GST goes above 5 cr.
please guide

Replies (2)

Quick Summary

This discussion clarifies the concept of 'turnover' for GST purposes, specifically whether it refers to the value before or after adding GST. It explains that aggregate turnover, as defined by the CGST Act 2017, includes all taxable supplies (excluding RCM), exempt supplies, exports, and inter-state supplies across all PANs on an all-India basis. Crucially, it excludes CGST, SGST, UTGST, IGST, and Cess when calculating the threshold, such as the 5 crore limit for specific financial years.

prasad Nilugal

GST Practitioner & Accounts

8998 Points Posted on 15 May 2020

Aggregate Turnover is define under section 2(6) of the CGST act 2017 as follows

The aggregate turnover means aggregate value of all taxable supply (excluding RCM) , exempt supply , export of goods or services or both , inter -state supply of persons having the same PAN to be computed on all India basis , but excluding CGST , SGST , UTGST , IGST and Cess ..