ADJUSTED TOTAL TURNOVER

[marichamy rajendran]

Which are the turnover to be exclude in Adjusted Total Turnover while using refund formula to calculating refund amount under GST.

Those who have knowledge on this subject, please share their views to assist me.

[Atul Rathod]

a) Domestic Exempted turnover

b) Refund claimed on account of zero rated supply (turnover) wherein supplier of inputs/input service has claimed the benefit of deemed exports/concessional rate for merchant exports/benefit against EPCG Scheme.

AI Summary

Adjusted total turnover exclusions in GST: exclude domestic exempted turnover and refunds linked to zero rated supplies with concessional benefits. Exclude domestic exempted turnover and refunds attributable to zero-rated supplies where the supplier of inputs/input services has availed deemed export benefits, concessional rate treatment for merchant exports, or benefits under the EPCG scheme from adjusted total turnover when applying the GST refund formula.