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Difference between total turnover and taxable turnover in GST act

Difference between total turnover and taxable turnover in GST act.

Reply— Under section 2(6) of CGST Act, “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.

Taxable turnover only includes taxable supplies of good or service or both.

Posted Date: Jun 16, 2020
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