All about Aggregate Turnover under GST
The aggregate turnover has been defined in section 2(6) of the Act as follows: "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; The analysis of definition for computing aggregate turnover is discussed below: (1) Turnover of all products - It is evident from definition that turnover of all the supplies whether taxable supplies, exempt supplies and exports should be aggregated to compute the limit of Rs.20 Lakhs or Rs.10 Lakhs. (2) Turnover on basis of PAN - It is further provided that the aggregate turnover of person having Permanent Account Number (PAN) will be computed on PAN I...