How to differentiate Aggregate Turnover with Input Tax Stock?
What is Aggregate Turnover? How does Input Tax Stock work under GST regime? What are the difference between Aggregate Turnover and Input Tax Stock?
Under GST system, the following information explains about Aggregate Turnover and Input Tax Stock.
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. Input Tax Stock means a significant reform in the field of indirect taxes in our country. Multiple taxes levied and collected by the Centre and States would be replaced by one tax called Goods and Services Tax (GST). GST is a multi-stage value added tax on consumption of goods or services or both.
The details about Aggregate Turnover and Input Tax Stock 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 Input Tax Stock, 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 Input Tax Stock separately below. You may kindly read the below links to know more about Input Tax Stock and Aggregate Turnover.
Aggregate Turnover under GST
Input Tax Stock under GST
The above information easily explains about Input Tax Stock and Aggregate Turnover.
We hope, you have satisfied with the difference between Aggregate Turnover and Input Tax Stock explained above. Do you have different thought on difference between Input Tax Stock and Aggregate Turnover?
Share below your thoughts about Aggregate Turnover and Input Tax Stock
Learn Exports Imports Free, Click here
Click here to know GST rate of your goods or service
How is IGST calculated under Imports?
How is IGST rate on imports treated?
GST and e-Commerce Business, FAQ
Definition of E-Commerce under GST
TDS under GST, Frequently Asked Questions
Does Interest attract on GST Tax payment delay?
Mechanism of Payment of GST tax in India
Levy of late fee for GST Tax returns filing in India
Notice to GST return filing defaulters
When to file Annual Return of GST online?
Procedures to claim reduction in output tax liability of GST in India
Procedures to claim Input Tax Credit under GST in India
When to file first Return of GST tax in India?
GST Tax returns filing – Who, How and When?
How is time of supply accounted under GST Tax Calculation
Valuation of GST under special cases
What is Threshold limit under GST
Meaning of Impact of GST on logistics sector
Liability in case of amalgamation or merger of Companies under CGST Means
Term Levy and Collection of Tax Under IGST
How to cover the risk of Cargo loss or damage
Register with Export Promotion Council
How to Choose a product for export business
Excise and Customs - Click here to read complete notification under Budget 2014
How to get Export Orders?
How to settle dispute in Exports and Imports?
Click here to know India Trade Classification(ITC)
Pre shipment bank finance to suppliers for exports through other agencies
Types of export containers
Measurement of export containers
Export Import Policy of India 2015-2020
MEIS, Merchandise Exports from India Scheme
How to import to India from Colombia?
How to export from India to Colombia?
Documents required for Export from Colombia