Adjusted Total Turnover

[Asked by 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

AI Summary

Adjusted total turnover treatment: services initially excluded, with export service receipts added only upon realisation for refund eligibility.
The Adjusted Total Turnover excludes turnover of services in the State/UT turnover component and then adds turnover of zero-rated supplies of services and certain non-zero-rated service supplies, while excluding exempt supplies (other than zero-rated) and supplies for which refund is claimed during the relevant period; export refunds for services are recognised only upon realisation of proceeds.