Aggregate turn around entered was combined with both purchase and sales so will this impact on any aspects?

Aggregate turn around entered was combined with both purchase and sales so will this impact on any aspects? I believe it should be only sales amount for aggregate value right

Asked on August 27, 2017 in Miscellaneous.
Add Comment
5 Answer(s)

As per section 22 of the CGST Act Aggregate Turnover means all outward supplies made by him excluding any Inward supplies where Reverse charge mechanism is applied.

Answered on August 27, 2017.
Add Comment

I read that but still want to clarify if it is a combination of both purchase and supply apart from the RCM.

Answered on August 27, 2017.
Add Comment

Example purchase value 500000 and sales value 600000 here no RCM applies it’s all registered. Now in this case what is turnover.

Answered on August 27, 2017.
Add Comment

Turnover will be Rs. 600000.

Answered on August 27, 2017.
Add Comment

Thank you for the confirmation.

Answered on August 27, 2017.
Add Comment

Your Answer

Gen GST