Aggregate turnover under GST composition defines eligibility by including specified outward supplies and prescribed exclusions. Aggregate turnover for composition levy eligibility is the sum of taxable supplies, exempt supplies, exports and inter State supplies, computed on an all India PAN basis; it excludes inward supplies taxed on reverse charge and taxes/cess. Explanation 1 adds that turnover includes supplies from the start of the financial year to the date of liability for registration and excludes exempt services supplied as deposits, loans or advances where consideration is interest or discount.
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Provisions expressly mentioned in the judgment/order text.
Aggregate turnover under GST composition defines eligibility by including specified outward supplies and prescribed exclusions.
Aggregate turnover for composition levy eligibility is the sum of taxable supplies, exempt supplies, exports and inter State supplies, computed on an all India PAN basis; it excludes inward supplies taxed on reverse charge and taxes/cess. Explanation 1 adds that turnover includes supplies from the start of the financial year to the date of liability for registration and excludes exempt services supplied as deposits, loans or advances where consideration is interest or discount.
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