The aggregate turnover is a crucial parameter for deciding the eligibility of a supplier to avail the benefit of exemption threshold of Rs. 20 Lakhs [Rs.10 Lakhs in case of special category States except J & K] and for determining the threshold limit for composition levy.
Article discusses Tax Treatment under GST Regime of advances received for future supplies of Goods and Services and includes Tax Treatment under GST for advances received but refunded, Tax Treatment under GST for advances received but forfeited, or Tax Treatment under GST for advances received but adjusted for later supplies. Article also discusses GST on […]
