How to differentiate Aggregate Turnover with Gross Annual Turnover?
What is Aggregate Turnover? How does Gross Annual Turnover work under GST regime? What are the difference between Aggregate Turnover and Gross Annual Turnover?
Under GST system, the following information explains about Aggregate Turnover and Gross Annual Turnover.
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. Gross Annual Turnover means 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 Aggregate Turnover and Gross Annual Turnover 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 Gross Annual 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 Aggregate Turnover and Gross Annual Turnover separately below. You may kindly read the below links to know more about Gross Annual Turnover and Aggregate Turnover.
Aggregate Turnover under GST
Meaning of term Gross Annual Turnover under GST
The above information easily explains about Gross Annual Turnover and Aggregate Turnover.
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