https://www.taxtmi.com/forum/issue?id=117293 Amendment caps the recognised turnover of zero-rated supply at the lesser of: value supplied without payment under bond/letter of undertaking or 1.5 times the value of like goods supplied domestically by the same or similarly placed supplier. Where domestic sales are a small part of total turnover, the 1.5x comparator can unduly limit the value attributed to zero rated exports and thereby reduce the adjustable turnover used for refund claims, prompting consideration of a writ challenge to the rule's vires. en-us Tue, 22 Jun 2021 20:01:25 +0530 Thu, 23 Jan 2025 15:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117293 Amendment caps the recognised turnover of zero-rated supply at the lesser of: value supplied without payment under bond/letter of undertaking or 1.5 times the value of like goods supplied domestically by the same or similarly placed supplier. Where domestic sales are a small part of total turnover, the 1.5x comparator can unduly limit the value attributed to zero rated exports and thereby reduce the adjustable turnover used for refund claims, prompting consideration of a writ challenge to the rule's vires. Discussion-Forum GST Tue, 22 Jun 2021 20:01:25 +0530 https://www.taxtmi.com/forum/issue?id=117293