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Turnover and Value of Supply

Goods and Services Tax - Started By: - Uday P - Dated:- 1-7-2017 Last Replied Date:- 16-7-2017 - Sir, I understand that the threshold limit for compulsorily registering under GST is aggregate turnover of 20 lakhs. How is this turnover determined in c .....

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Is it 21 lakhs or is it 3 lakhs? In this case will I have to register compulsarily for GST? Warm regards. - Reply By KASTURI SETHI - The Reply = Your turnover is 21 lakhs. - Reply By Uday P - The Reply = Sir, I am confused because going by the defini .....

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Aggregate turnover' is defined in section 2(6) of the Model GST Law as follows - Aggregate turnover means the aggregate value of all taxable and non-taxable supplies, exempt supplies and exports of goods and/or services of a person having the sam .....

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a person dealing in buying and selling of second hand goods i.e. used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on purchase of such goods the value of sup .....

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ion as per Section 2(6) of CGST. You are referring to determination of value of supply as per Model GST Act. It is for different purpose. Now study CGST/SGST/IGST and not Model GST Act. Model GST was at draft level prior to enactment. - Reply By Pree .....

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etermination of valuation for the purpose of payment of GST and definition of 'Aggregate turnover' under CGST is meant for arriving at ceiling limit of threshold exemption of ₹ 20 lakhs. Both have been framed with different purposes and .....

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del GST Act is not to be referred only various GST Acts are to referred. - Reply By Uday P - The Reply = Sir, just to make things more clear for me , in the above example of 18 lakhs purchase and 21 lakhs sale, if the dealer opts for registering unde .....

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