9911796707
TMI BlogNon Zero rated supplyX X X X Extracts X X X X X X X X Extracts X X X X ..... Non Zero rated supply X X X X Extracts X X X X X X X X Extracts X X X X ..... tails are required. Reply By VISHWNANATH NR: The Reply: Dear sir Further to the above question the meaning of Adjusted Total Turnover as follows. In this case what do you mean by non-Zero-rated supply of services ? "Adjusted Total Turnover" means the sum total of the value of- (a) the turnover in a State or a Union territory, as defined under clause (112) of section 2, excluding the turnover ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of services; and (b) the turnover of zero-rated supply of services determined in terms of clause (D) above and non-zero-rated supply of services,excluding- (i) the value of exempt supplies other than zero-rated supplies; and (ii) the turnover of supplies in respect of which refund is claimed under sub-rule (4A) or sub-rule (4B) or both, if any, during the relevant period. Reply By KASTURI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SETHI: The Reply: Non-zero-rated supply means other than export of goods or services or both and other than supplies made to SEZ unit or SEZ Developer. In simple words, supplies made for home consumption (taxable and exempted both). It is pertinent to mention that zero rated supply is not exempted. Zero rate is also a rate of duty. Such supply is tax-free but for export. On the other hand, non-ze ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ro rated supply means the supply is not tax-free. Leviability of tax is there on non-zero-rated supply.
Reply By Ganeshan Kalyani:
The Reply:
Yes, non-zero rated supply means supply other than export i.e. domestic supply. X X X X Extracts X X X X X X X X Extracts X X X X
|
