Refund gst

In term of Circular 147 , R/w Notification 16/2020 CT amending rule 89(4)
In your case the adjusted turnover will be 1000()

1. Your Domestic supply of Goods is 400/- & 1.5 times of 400 comes to 600/- & the export value for goods is 100. hence the value for Zero rates supply will take. as whichever is lower & that is 100/-

2. Your domestic supply of services is 300/- & 1.5 time of 300/- comes to 450/- hence your zero rated supply of services will 200/-

Actually in your case your domestic supply is much more in value then the value of export , so computing adjusted turnover with new formula does not make any changes.

Now let's take your example with little variation of export & domestic supply in value .
Suppose
Domestic Supply:
value per pcs 10/- & number of pcs supplied 100 , hence your domestic supply will comes to 100/-
Export Supply :
Value per pcs 20/- & number of pcs exported 100 , hence value of Export comes to 200/- (20×10)

Now applying new amended formula will be : 1.5 X 100 = 150 , whereas you export value is 200 , so in the case the value export will taken as 150/- (whichever is lower) & in this case your adjusted turnover will be 250(100+150)
Formula : Net ITC X 150÷250

hope I make you understand the new amended rule 89(4) of CGST Act

** Sorry kindly read Number pcs 10 not 100

Mazhar Contracts

In case of adujsted turnover can I take domestic supply of servises and export of servises...along with goods...

Yes you can ....... Only exempt supply is excluded

 

Thank you so much