M/s STR Sales Private Limited having its registered office at Gurugram (Haryana), carried on the following supplies with their respective turnovers during the financial year ending on 31.03.2024: Supply of Compressed Nat
CS Professional · Goods and Services Tax (GST) and Corporate Tax Planning · PYQS · June 2024
M/s STR Sales Private Limited having its registered office at Gurugram (Haryana), carried on the following supplies with their respective turnovers during the financial year ending on 31.03.2024: Supply of Compressed Natural Gas (CNG) at Gurugram ₹ 55,00,000 Value of inward supplies on which tax is payable on reverse charge basis ₹ 12,00,000 Supply of Aviation Turbine Fuel at Gurugram ₹ 3,50,000 Value of transfer from Gurugram to Branch at Lucknow (U.P.) without payment of consideration ₹ 6,50,000 Value of taxable supplies of Branch at Lucknow (U.P.) ₹ 32,30,000 Compute the aggregate turnover of M/s STR Sales Private Limited from the above information in the context of CGST Act, 2017.
Answer & Explanation:
Computation of the aggregate turnover of STR Sales Private Limited Particulars ₹ Supply of Compressed Natural Gas (CNG) at Gurugram [Being a non-taxable supply, it is an exempt supply and thus, includible in aggregate turnover vide section 2(6) of the CGST Act, 2017] 55,00,000 Value of inward supplies on which tax is payable on reverse charge basis Nil Supply of Aviation Turbine Fuel at Gurugram [Being a non-taxable supply, it is an exempt supply and thus, includible in aggregate turnover vide section 2(6) of the CGST Act, 2017] 3,50,000 Value of transfer from Gurugram to Branch at Lucknow (U.P.) without payment of consideration [Being a taxable supply, it is includible in aggregate turnover] 6,50,000 Value of taxable supplies of Branch at Lucknow (U.P.) 32,30,000 Aggregate turnover 97,30,000
Topics: Goods and Services Tax (GST)
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