How to differentiate Aggregate Turnover with All Industry Rate (AIR)?
What is Aggregate Turnover? How does All Industry Rate (AIR) work under GST regime? What are the difference between Aggregate Turnover and All Industry Rate (AIR)?
Under GST system, the following information explains about Aggregate Turnover and All Industry Rate (AIR).
As per GST terms, 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. All Industry Rate (AIR) means the composite rates are subject to certain conditions during transition period that ensure that input credit /refund under GST and drawback of composite rates are not taken together for the export product.
The details about Aggregate Turnover and All Industry Rate (AIR) with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Aggregate Turnover and All Industry Rate (AIR), so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Aggregate Turnover and All Industry Rate (AIR) separately below. You may kindly read the below links to know more about All Industry Rate (AIR) and Aggregate Turnover.
Aggregate Turnover under GST
Term All Industry Rate (AIR) under GST
The above information easily explains about All Industry Rate (AIR) and Aggregate Turnover.
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CGST Act section 76 Tax collected but not paid to Government
CGST Act section 77 Tax wrongfully collected and paid to Central Government or State Government
CGST Act Section 78 Initiation of recovery proceedings
CGST Act section 79 Recovery of tax
CGST Act Section 80 Payment of tax and other amount in instalments
CGST Act section 81 Transfer of property to be void in certain cases
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CGST Act section 83 Provisional attachment to protect revenue in certain cases
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