How to differentiate Gross Annual Turnover with All Industry Rate?
What is Gross Annual Turnover? How does All Industry Rate work under GST regime? What are the difference between Gross Annual Turnover and All Industry Rate?
Under GST system, the following information explains about Gross Annual Turnover and All Industry Rate .
As per GST terms, “Gross Annual 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 cuss.
For your immediate reference, we give below web links on Gross Annual Turnover and All Industry Rate separately below. You may kindly read the below links to know more about All Industry Rate and Gross Annual Turnover.
Meaning of term Gross Annual Turnover under GST
Term All Industry Rate (AIR) under GST
The above information easily explains about All Industry Rate and Gross Annual Turnover.
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