Adjusted Total Turnover

[Guest]

Dear Sir/Madam

My Query is While calculating the Adjusted total turnover in the point A the sentence excluding the turnover the turnover of services means ?

Adjusted Total Turnover” means the sum total of the value of-

(a) the turnover in a State or a Union territory, as defined under clause (112) of section 2, excluding the turnover of services; and

(b) the turnover of zero rated supply of services determined in terms of clause

(D) above and nonzero-rated supply of services, excluding-

(i) the value of exempt supplies other than zero-rated supplies; and

(ii) the turnover of supplies in respect of which refund is claimed under sub-rule (4A) or sub-rule (4B) or both, if any, during the relevant period

[Shilpi Jain]

The turnover of services is excluded and subsequently the realisations of the service exports are added as the refund is eligible only when the proceeds are realised in case of service exports.

I hope I got your question right.

[Guest]

Dear Ma'am,

Thank you !

AI Summary

Clarification on 'Adjusted Total Turnover' under GST: Service turnover excluded, but export realizations added back for refunds. A user inquired about the calculation of 'Adjusted Total Turnover' under the Goods and Services Tax (GST) framework, specifically questioning the exclusion of the turnover of services. The definition involves the sum of turnover in a State or Union territory excluding service turnover, and the turnover of zero-rated and non-zero-rated supply of services, excluding exempt supplies and supplies for which refunds are claimed. A respondent clarified that the turnover of services is excluded initially, but service export realizations are added back, as refunds are only eligible when proceeds from service exports are realized.