for the purpose of calculating Adjusted Total Turnover
# Excempt supply = ?? i.e., what does it includes
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 08 May 2021
All exempt goods and services such as export, pan masala, tobacco etc. are included
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 08 May 2021
Yes for calculating turnover all exempt supplies are included
Pavan biyyala
(38 Points)
Replied 08 May 2021
Not for the purpose of calculating turnover but for the purpose of calculating Adjusted Total Turnover for the purpose of refund of input tax credit under rule 89(4) / (5)
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 09 May 2021
In term of Section 16 of IGST Act , Supply to Sez is Zero rated Supply (Export) , it's not Exempted supply .
In term of Section 2(47) of CGST Act , means which attracts nil rate of tax or which is Exempted from tax u/s 11 CGST or 6 IGST.
Adjusted turnover define under sub-rule(4) of rule 89 , does not include Exempted Supply .
Hence Exempted supply is not included in computing the Adjusted Total Turnover.
In term of Section 2(47) of CGST Act , means which attracts nil rate of tax or which is Exempted from tax u/s 11 CGST or 6 IGST.
Adjusted turnover define under sub-rule(4) of rule 89 , does not include Exempted Supply .
Hence Exempted supply is not included in computing the Adjusted Total Turnover.
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