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
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