How to differentiate Taxable Turnover with All Industry Rate (AIR)?
Difference between All Industry Rate (AIR) and Taxable Turnover under GST terms
What is Taxable Turnover? How does All Industry Rate (AIR) work under GST regime? What are the difference between Taxable Turnover and All Industry Rate (AIR)?
Under GST system, the following information explains about Taxable Turnover and All Industry Rate (AIR).
As per GST terms, Taxable Turnover means the Taxable 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 cessand.
The details about Taxable Turnover and All Industry Rate (AIR) with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Taxable 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 Taxable Turnover and All Industry Rate (AIR) separately below. You may kindly read the below links to know more about All Industry Rate (AIR) and Taxable Turnover.
Term Taxable Turnover under GST
Term All Industry Rate (AIR) under GST
The above information easily explains about All Industry Rate (AIR) and Taxable Turnover.
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