GST Related Quiz

Discuss legal requirements, formalities, approvals, and Taxation
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NIHAL
Posts: 32
Joined: April 21st, 2023, 4:19 pm

Does aggregate turnover include value of inward supplies received on which RCM is payable?
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aditya9496
Posts: 66
Joined: May 3rd, 2023, 2:45 pm

Ans. Aggregate turnover does not include value of inward supplies on which tax is payable on reverse charge basis. In other words, aggregate turnover, in the hands of supplier, would include value of those supplies on which tax is not payable by him but by the recipient of such supplies.
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