https://www.taxtmi.com/forum/issue?id=117214 The dispute concerns whether values of exported services with payments pending at the end of the refund period must be treated as "non-zero-rated supply of services" within the Adjusted Total Turnover denominator of the Rule 89(4) refund formula. The department treats such pending export proceeds as non-zero-rated, reducing the refundable ITC, while the taxpayer contends that bona fide zero-rated exports, with proceeds received within the statutory time and no breach of conditions, should not be recharacterized as non-zero-rated for refund computation; appeal of adverse orders is the suggested remedy. en-us Wed, 12 May 2021 20:09:40 +0530 Thu, 23 Jan 2025 15:54:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117214 The dispute concerns whether values of exported services with payments pending at the end of the refund period must be treated as "non-zero-rated supply of services" within the Adjusted Total Turnover denominator of the Rule 89(4) refund formula. The department treats such pending export proceeds as non-zero-rated, reducing the refundable ITC, while the taxpayer contends that bona fide zero-rated exports, with proceeds received within the statutory time and no breach of conditions, should not be recharacterized as non-zero-rated for refund computation; appeal of adverse orders is the suggested remedy. Discussion-Forum GST Wed, 12 May 2021 20:09:40 +0530 https://www.taxtmi.com/forum/issue?id=117214