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

Excluding Domestic Exempted Turnover and Zero-Rated Supplies When Calculating GST Refunds: Key Points to Consider In a discussion forum about Goods and Services Tax (GST), a user inquired about which turnovers should be excluded from the Adjusted Total Turnover when calculating a refund amount under GST. The response provided highlighted that domestic exempted turnover and turnover related to refunds claimed on zero-rated supplies should be excluded. This includes cases where the supplier of inputs or input services has claimed benefits such as deemed exports, concessional rates for merchant exports, or benefits under the EPCG Scheme.