TMI BlogAggregate TurnoverX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, Charitable trust registered u/s 12A of the IT Act , receives donations. Due to donations, the total of the Income and Expenditure a/c exceeds 5cr. Other than the donations, the (taxable supply + exempt supply) comes only to ₹ 30L. In such case is filing GSTR-9 / 9C mandatory by taking donations as part of aggregate turnover? As donations are just in the nature of gift ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or financial transaction, cant they be excluded from the ambit of Aggregate turnover? - Reply By ABHISHEK TRIPATHI - The Reply = Dear Prem Sir, Donation doesn t fall under the definition of aggregate turnover. It's not taxable supply or falling under other ingredients as mentioned under section 2(6) . Relevant provision as under: S. 2 (6) ―aggregate turnover means ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess; - R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eply By KASTURI SETHI - The Reply = No hope. Cannot be excluded. - Reply By ABHISHEK TRIPATHI - The Reply = Excluded ? @KS Sir - Reply By Prem Gomathy - The Reply = Money is excluded from the definition of goods or service. So does it fit in as such? - Reply By ABHISHEK TRIPATHI - The Reply = All the ingredient for AT is more or less related to supply. Receiving donation is not at all a sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply. Yes Sir, your money point also holds good. As donation in your context is not goods or services. - Reply By Prem Gomathy - The Reply = Correct Abhishek Sir, It is not received for any particular purpose. Like you said it doesnt fit into any supply. As such there is no consideration, nor quid pro quo. Also in other cases that are exempt like interest received, we put money in the ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k and for that we earn interest. Atleast there is furtherance of business or benefit for one party. But for donation the benefit is received by a third party. - Reply By KASTURI SETHI - The Reply = SH. ABHISHEK TRIPATHI Ji, Re-examined on being pointed out by you. I agree with you. You are absolutely right, Sir. I correct my reply as per your interpretatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, analysis and conclusion. Thanks a lot for enrichment of my knowledge. - Aggregate Turnover - Query Started By: - Prem Gomathy Dated:- 1-4-2021 Goods and Services Tax - GST - Got 7 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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