TMI Blogcalculation of turnoverX X X X Extracts X X X X X X X X Extracts X X X X ..... good afternoon to one and all, i have one doubt. if i want to start a service oriented firm in two states, ex: head office in telangana and branch in andhra pradesh,then for the purpose of 20 lakhs limit for registration ,the two states turnover clubbed or treat separately? thanks in advance - Reply By KASTURI SETHI - The Reply = Dear Querist, Turnover of both will be clubbed inasmuch as P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AN is SAME. See the definition of 'aggregate turnover' . As per Section 2 (6) aggregate turnover means 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 i nter-State supplies of persons having the same Permanent Account Number, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess; - Reply By ShankarDurgaVaraPrasad P - The Reply = thank u sir - Reply By ABHISHEK TRIPATHI - The Reply = Dear Sir, The states turnover will only be clubbed when the person makes inter-state supplies and all same PAN persons making interstate supply will be clubbed. For inst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance, AP Office makes 10 lakh interstate supply and Telangana Office made 10 lakh interstate supply, then in such a situation, it will be clubbed. And the aggregate turnover will be 10+10 = 20 Another instance, AP Office makes 10 lakh intrastate supply and Telangana Office makes 10 lakh intrastate supply. Then your AT will not 10 + 10 lakhs as it will be 10 for AP Office and 10 for Telangana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Office, not clubbing because it's only intra state supply. Clubbing of two states supply (person having the same PAN) is in the case of interstate supply Section 22(1) - Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, if his aggregate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... turnover in a financial year exceeds twenty lakh rupees: ―aggregate turnover means 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis but excludes central tax, State tax, Union territory tax, integrated tax and cess; - Reply By Ganeshan Kalyani - The Reply = Minute point highlighted by Sri Abhishek Sir. Thanks - Reply By Shilpi Jain - The Reply = 20 lakes has to be seen on PAN Level in which the branch transfers between 2 gstin will also have to be included - calculation of turnover - Query Started By: - ShankarD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urgaVaraPrasad P Dated:- 16-4-2021 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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