Page 33 - GSTL_2nd July 2020 _Vol 38_Part 1

COMPONENTS OF AGGREGATE
TURNOVER UNDER GST
By
Sanjeev Singhal
CHARTERED ACCOUNTANT, SR. PARTNER GRANDMARK &
ASSOCIATES

In GST for computing threshold limit for taking
GST registration is the aggregate turnover of ` 20 Lacs for
a service supplier or ` 40 Lacs for a goods supplier. Part-
ner salary, income from salary from company and various
other income like interest on loan and deposit, Interest on debenture, rent on
commercial building, rent on residential unit and Capital Gain on Shares are dif-
ferent components of the revenue of a company or a firm. These issues have been
resolved in AAR Karnataka in Re : Anil Kumar Agrawal, 2020 (36) G.S.T.L. 596
(A.A.R. - GST - Kar.) and are discussed below

In this regard, we invite to reference to the definition of “Aggregate
Turnover”, in terms of Section 2(6) of CGST Act, 2017, which reads as under :
“aggregate turnover” means the aggregate value of all taxable supplies (ex-
cluding 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
GST LAW TIMES  2nd July 2020  33