Q. Does aggregate turnover include value of inward supplies received on which Reverse Charge Mechanism (RCM) is payable?

Refer Section 2(6) of Central GST Act. Aggregate turnover does not include value of inward supplies on which tax is payable on reverse charge basis.

Section 2(6) of Central GST act is reproduced here below:

“Aggregate turnover” 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), 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;

Conclusion

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