Section 2(112) of CGST Act: Meaning of “Turnover in State/ Union Territory”

Definition of the term “Turnover in State/ Union Territory” under the Central Goods and Services Tax (CGST) Act, 2017

As per Section 2(112) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term  “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.

Central Goods and Services Tax (CGST) Act, 2017 (Chapter-wise/ Section-wise)

Section 2 of CGST Act, 2017: Definitions

Leave a Reply