EXAMPLE-140
ABC Limited
has the following details for the financial year 2017-18. Determine whether
required registration under GST.
|
S.No. 1 2 3 4 5 6 7 |
Particulars Taxable
supplies Exempt
supplies Supply
of person having same PAN Inward
supply on which tax paid under Reverse charge Supply
on behalf of principal Tax
paid (CGST/SGST/IGST) Supply
of goods by their registered job worker after job work |
Amount
(Rs) 500000 700000 800000 200000 500000 100000 200000 |
Answer
As
per definition under GST “aggregate turnover” according to section 2(6) 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 basis but excludes central
tax, State tax, Union territory tax, integrated tax and cess;
According to
the above provision Aggregate turnover as follows:-
Calculation of
Aggregate turnover for the purpose of registration
|
S.No. 1 2 3 4 5 6 7 |
Particulars Taxable
supplies Exempt
supplies Supply
of person having same PAN (their Branch) Inward
supply on which tax paid under Reverse charge Supply
on behalf of principal Tax
paid (CGST/SGST/IGST) Supply
of goods by their registered job worker after job work |
Amount
(Rs) 500000 700000 800000 N/A
500000 N/A 200000 |
|
|
Total
Aggregate turnover |
27,00,000 |
Notes:
- Explanations
to section 22 specify that
(i)
“aggregate turnover” shall include all supplies made by the taxable person,
whether on his own account or made on behalf of all his principals;
(ii) the
supply of goods, after completion of job-work, by a registered job worker shall
be treated as the supply of goods by the principal referred to in section 143,
and the value of such goods shall not be included in the aggregate turnover of
the registered job worker;