GST Audit : Aggregate Turnover in GST Audit
GST Audit: Aggregate Turnover in GST Audit
• Aggregate turnover' is defined to mean aggregate value of all taxable supplies, exempt supplies, exports of goods and/or services and inter-State supplies of a person having the same Income Tax Permanent Account Number (PAN), to be computed on all India basis for GST Audit.
• Simple terms, Value of all (taxable supplies + Exports + Exempt supplies + Inter-state supplies) – (Taxes + Value of inward supplies + Value of supplies taxable under reverse charge + Non-taxable supplies Value) of a person having the same PAN (Permanent Account Number) across all his business across India for GST Audit.
• Further, in case a person has various branches across the world and s/he possesses the same Permanent Account Number (PAN) of Income Tax, his/her turnover for all such branches shall be aggregated
Follow me on Social Media:
1. Facebook : https://www.facebook.com/tax4wealth
2. Linkedin : https://www.linkedin.com/in/tax4-wealth-4aa2b718b/
3. Twitter : https://twitter.com/tax4wealth
4. Tumblr : https://tax4wealth.tumblr.com/
5. Pinterest : https://in.pinterest.com/tax4wealth/pins/
6. Medium : https://medium.com/@bhartichawla27
Google Play Store
➨ Writes to us: [email protected]