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composition scheme
Indirect Taxation
Case A person is dealing a trading activity and other activity What is the meaning of turnover in state See image pls
Answers (13)
I am not very sure aboutâ?¦.Itâ??s my assumption that Turnover in State means considering the turnover of entity in a particular state alone. Example An entity has its branches in 3 different states - Kerala, Tamilnadu & Telangana Turnover of Kerala, Turnover of Tamil Nadu - individually considering them not as aggregate.
Swetha S
I am not very sure aboutâ?¦.Itâ??s my assumption that Turnover in State means considering the turnover of entity in a particular state alone. Example An entity has its branches in 3 different states - Kerala, Tamilnadu & Telangana Turnover of Kerala, Turnover of Tamil Nadu - individually considering them not as aggregate.
That turnover of branch in a particular stateâ?¦.
Priyanka R
But sis person having pan ...all the businesses of that person treated as single...i mean we have to take turnover of all branches na?
If having same PAN , we have to treat as single
Swetha S
May be they are taking the turnover of distinct personsâ?¦.
Even though we treat it single sis
Sorry for creating confusions Here itâ??s what it actually means Section 2(112): turnover in State or turnover in Union territory 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) and exempt supplies made within a State or Union territory by a taxable person, exports of goods or services or both and inter-State supplies of goods or services or both made from the State or Union territory by the said taxable person but excludes central tax, State tax, Union territory tax, integrated tax and cess
Shiva Teja Faculty
It means turnover only in that state and not aggregate turnover
Sir if we have braches in different states , which state u we have to choose ?
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