Annual aggregate turnover on GST portal

What is annual aggregate turnover?

Annual Aggregate Turnover (AATO) is a significant variable in the GST regime. It is the total annual turnover of one legal entity which may be registered in multiple states.

As per Section 2(6) of the CGST Act, 2017, aggregate turnover has been defined as ‘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’.

Thus, aggregate turnover simply put, means:

· All taxable supplies, exempt supplies, exports, and inter-state stock transfers;

· Excludes inward supplies on which tax under reverse charge mechanism was paid;

· Computed on all India basis;

· Excludes taxes.

Read the detailed blog on Cygnet GSP