• Exempted Category Meaning In Hindi

Exempted Category Meaning In Hindi

Any tax is levied as a percentage of any amount which is either income or value or revenue or turnover. Presently, excise duty is levied on MRP, Service Tax on value of taxable service and VAT on turnover of goods. In the proposed GST regime, what will be relevant will be 'aggregate turnover'. The 'aggregate turnover' will be relevant for the purpose of – • registration of taxable person • Threshold exemption limits • Composition levy The valuation of supply of goods and services shall be done in terms of of read with [both are at draft stage as of now]. Accordingly, valuation may be done as per transaction value, by comparison, computed value method or residual method. Mary ann sieve shaker manual lawn. Meaning of Aggregate Turnover 'Aggregate turnover' is defined in of the as follows – 'Aggregate turnover means the aggregate value of all taxable and non-taxable supplies, exempt supplies and exports of goods and/or services of a person having the same PAN, to be computed on all India basis and excludes taxes, if any, charged under the CGST Act, SGST Act and the IGST Act, as the case may be. Explanation.- Aggregate turnover does not include the value of supplies on which tax is levied on reverse charge basis and the value of inward supplies.'