How to differentiate Accumulated credit with Aggregate Turnover?
What is Accumulated credit? How does Aggregate Turnover work under GST regime? What are the difference between Accumulated credit and Aggregate Turnover?
Under GST system, the following information explains about Accumulated credit and Aggregate Turnover.
As per GST terms, Accumulated credit means credit availed on inputs, input services and capital goods to extent attributed to dutiable goods or taxable services/exported goods+ exported services, availed in excise/service tax returns and not utilized but C/F as closing balance in return filed in pre-GST. 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.
The details about Accumulated credit and Aggregate Turnover with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Accumulated credit and Aggregate Turnover, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Accumulated credit and Aggregate Turnover separately below. You may kindly read the below links to know more about Aggregate Turnover and Accumulated credit.
Accumulated credit to GST means
Aggregate Turnover under GST
The above information easily explains about Aggregate Turnover and Accumulated credit.
We hope, you have satisfied with the difference between Accumulated credit and Aggregate Turnover explained above. Do you have different thought on difference between Aggregate Turnover and Accumulated credit?
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