TaxTMI 
TaxTMI 
TaxTMI 
Adjusted Total Turnover Computation
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....djusted Total Turnover Computation<br> Query (Issue) Started By: - Rakesh Jain Dated:- 1-7-2025 Last Reply Date:- 6-7-2025 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>"My Net ITC is alread....
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....y computed after the deduction as per Rule 42. Now, for refund calculation, am I again required to apply the proportionate formula by including exempted turnover in the adjusted total turnover? Wouldn....
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....'t that amount to a double deduction?" Reply By Sadanand Bulbule: The Reply: Plz refer Rule 89[4][E] of the CGST Rules, which reads as under: (E) "Adjusted Total Turnover" means the sum total o....
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....f 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 ....
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....services determined in terms of clause (D) above and non-zero-rated supply of services, excluding the value of exempt supplies other than zero rated supplies during the relevant period Reply By Shil....
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....pi Jain: The Reply: This is a very big issue which comes to notice only when refund is filed. Ideal way of doing this is to take entire credit in 4A5 in the monthly returns and then computing rule 4....
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....2/43 reversal and then reversing it in 4B. By this, when you are filing refund, you take ITC of 4A5 and do the computation.<br> Discussion Forum - Knowledge Sharing ....