The “aggregate turnover” is the aggregate value of all taxable supplies, exports of goods or/and services or both, exempt supplies and interstate supplies of persons having the same PAN, to be computed on all India basis. However, such taxable supplies do not include the value of inward supplies on which GST is being paid under reverse charge basis. The aggregate turnover also excludes Central tax, State tax, Union territory tax, Integrated tax and cess.
In other words, the total of the following shall be considered as an aggregate turnover:
Value of all taxable supplies of goods and services
Value of all Inter-state supplies
Value of all exempt supplies of goods and services
Value of all export of goods or services or both
Turnover would, therefore, include the following:
All taxable supplies other than supplies on which reverse charge is applicable.
Supplies between distinct entities (in different States or separate business vertical).
Goods supplied to job worker on principal to principal basis.
Export or zero rated supplies.
Goods received from job worker on principal to principal basis.
Supplies of agents/ job worker on behalf of the principal.
Exempt supplies under GST:
exempt via any notification,
non-taxable supplies (like Diesel, Petrol, Liquor etc.)
Taxes other than those under GST
However, the following items would be excluded from Turnover:
Inward supplies on which taxes are paid under reverse charge
Taxes and cesses under Goods and Service Tax
Goods supplied for or received back u/s 143 (job work)
Interstate supply of services
Transactions which are neither supply of goods or service.
Supplies provided outside India or received outside India
As per section 2(47) exempt supply means any supply of goods or/and services or both which may be wholly exemption from tax under section 6 or under section 11 of the IGST Act or attract nil rate of tax, and includes non-taxable supply