Aggregate Turnover in GST

Aggregate Turnover in GST

The calculation of aggregate turnover in GST will decide as to what is taxable supply and what shall be admissible  ITC in a particular business in GST.

The revised draft GST Act,2016 defines “aggregate turnover” under Section 2(6) as below 

Section 2 (6) “aggregate turnover” means the aggregate value of all taxable supplies, exempt supplies, exports of goods and/or services and inter-State supplies of a person having the same PAN, to be computed on all India basis and excludes taxes, if any, charged under the CGST Act, SGST Act and the IGST Act, as the case may be;

Explanation.- Aggregate turnover does not include the value of inward supplies on which tax is payable by a person on reverse charge basis under sub-section (3) of Section 8 and the value of inward supplies.

Turnover in State 

The revised draft GST Act,2016 defines “turnover in a State” under Section 2(107) as below 

Section 2(107) “turnover in a State” means the aggregate value of all taxable supplies, exempt supplies, exports of goods and / or services made within a State by a taxable person and inter-state supplies of goods and /or services made from the State by the said taxable person excluding taxes, if any charged under the CGST Act, SGST Act and the IGST Act, as the case may be;

Explanation.- Aggregate turnover does not include the value of inward supplies on which tax is payable by a person on reverse charge basis under sub-section (3) of Section 8 and the value of inward supplies.