Inclusion of meis license sale in Adjusted total turnover

[Ashish Agarwal]

I am filing my RFD-01. The only sales i have are zero rated export sale and exempted Meis scrip sale.

My query is that do i include the MEIS license/scrip sale in my Adjusted total turnover.

AI Summary

Clarification on GST: Exempt MEIS Scrip Sales Excluded from Adjusted Total Turnover per Rule 89(4)(E), ITC Reversal Required. A user inquired about including MEIS license/scrip sales in the Adjusted Total Turnover for GST purposes while filing RFD-01, highlighting zero-rated export sales and exempted MEIS scrip sales. A respondent clarified that per Rule 89(4)(E) of the CGST Rules, 2017, exempt supplies are excluded from Adjusted Total Turnover. Another contributor emphasized the necessity of ITC reversal under Section 17(2) of the CGST Act, 2017, due to the nil GST rate on MEIS scrip sales. The discussion concluded with a question about whether ITC reversal should apply only to MEIS-related ITC or the entire ITC availed.