adjusted turnover

“Adjusted Total turnover” means the turnover in a State or a Union territory, as defined under sub-section (112) of section 2, excluding the value of exempt supplies other than zero-rated supplies, during the relevant period.

For Eg, Inter state turnover (within India)Rs1,00,00,000 & turnover of Exports(Zero rated supply) of Rs.40,00,000 Intra state- Rs.2,50,00,000(includes exempted goods turnover of Rs.1,00,00,000)

Adjusted turnover- 1,00,00,000+40,00,000+2,50,00,000-1,00,00,000= Rs.2,90,00,000.

IN ABOVE EXAMPLE - TAX INCLUDES IN INTRA SALES & INTER STAT SALES

FURTHER IN REFUND APPLICATION TAX AMOUNT IS TO BE ADD IN ADJUSTED TURNOVER OR ONLY BASIC AMOUNT TO BE ADD