Aggregate turnover under composition levy - GST Ready Reckoner - GST

Aggregate turnover under composition levy Aggregate turnover under composition levy [ Section 2(6) read with explanation 1 to section 10 of the CGST Act ] The definition of aggregate turnover as contained in section 2(6) of the CGST Act is the sum of value of all outward supplies falling in the following four categories: Taxable supplies Exempt supplies Exports of goods or services or both inter-State supplies It excludes: The value of inward supplies on which tax is payable by a person on reverse charge basis Taxes including cess paid under GST law. It is computed on all India basis for a person having same Permanent Account Number (PAN). Explanation 1 to section 10 clarifies that for the purposes of computing aggregate turnover of a registered person for determining his eligibility to pay tax under this section, aggregate turnover includes value of supplies from 1st April of a Financial year up to the date of his becoming liable for registration and excludes value of exempt supply of services provided by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount.