https://www.taxtmi.com/forum/issue?id=120904 Refund of accumulated input tax credit under the inverted duty structure is computed under Section 54(3) of the CGST Act read with Rule 89(5) of the CGST Rules. The refund formula uses Adjusted Total Turnover as a key denominator, and this includes zero-rated supplies such as exports. For this purpose, export turnover is included in Adjusted Total Turnover, while inward supplies under reverse charge and exempted turnover are excluded. en-us Wed, 06 May 2026 21:51:05 +0530 Wed, 20 May 2026 21:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120904 Refund of accumulated input tax credit under the inverted duty structure is computed under Section 54(3) of the CGST Act read with Rule 89(5) of the CGST Rules. The refund formula uses Adjusted Total Turnover as a key denominator, and this includes zero-rated supplies such as exports. For this purpose, export turnover is included in Adjusted Total Turnover, while inward supplies under reverse charge and exempted turnover are excluded. Discussion-Forum VAT / Sales Tax Wed, 06 May 2026 21:51:05 +0530 https://www.taxtmi.com/forum/issue?id=120904