How to differentiate Net Taxable Turnover with Revised Threshold limit?
What is Net Taxable Turnover? How does Revised Threshold limit work under GST regime? What are the difference between Net Taxable Turnover and Revised Threshold limit?
Under GST system, the following information explains about Net Taxable Turnover and Revised Threshold limit.
Turnover, in common parlance, is the total volume of a business. The term ‘aggregate turnover’ has been defined in GST law as under:“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.
The details about Net Taxable Turnover and Revised Threshold limit with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Net Taxable Turnover and Revised Threshold limit, so as to enable you to have a clear idea on these shipping terms.
For your immediate reference, We give below web links on Net Taxable Turnover and Revised Threshold limit separately below. You may kindly read the below links to know more about Revised Threshold limit and Net Taxable Turnover.
What is Net Taxable Turnover under GST
Revised Threshold limit under GST
The above information easily explains about Revised Threshold limit and Net Taxable Turnover.
I hope, you have satisfied with the difference between Net Taxable Turnover and Revised Threshold limit explained above. Do you have different thought on difference between Revised Threshold limit and Net Taxable Turnover?
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