Adjusted Total Turnover for ITC refund calculation

[Narendra Soni]

Kindly suggest, whether sale value of below mentioned items will be included in" Adjusted Total turnover" for claiming refund of ITC accumulated on export of goods/services under Bond/LUT, in its formula:-

1.Sale of MEIS (Duty credit scrip issued by DGFT as incentive on export) on which GST rate is 0% (NIL rated)

2.Sale of Waste & Scrap of fire woods on which GST rate is 0% (NIL rated).

Kindly suggest at the earliest.

AI Summary

Exempt supply exclusion from adjusted turnover affects ITC refund calculation for exports under Bond/LUT, no reversal seen required.
Receipts from sale of MEIS duty credit scrips and firewood waste/scrap treated as nil rated, exempted or non taxable supplies fall outside the Adjusted Total Turnover for computing refunds of accumulated input tax credit on exports under Bond/LUT, and the consulted view is that proportionate reversal of ITC need not be made for such exempt receipts.