Examples of Adjusted Total turnover in a sentence
Adjusted Total turnover shall have the same meaning as assigned to it in sub-rule (4).””( emphasis supplied) The above sequence indicates that the definition of the expression ‘Net ITC’ in Rule 89(5) originally meant “input tax credit availed on input and inputs services”.
However, the infrastructural issue runs far deeper than these heavily publicized cases, extending across transportation, energy, telecommunications, sanitation and housing.
In explanation (b) to sub-rule (5) of rule 89, Adjusted Total turnover" and "relevant period" shall have the same meaning as assigned to them in sub-rule (4).
The instances for the same shall principally cover such cases where there is difference in taxable turnover in GST Returns and the Adjusted Total turnover.
Once the taxable value is reported under various rates as specified in sub-parts A, C, E, G, I, J, and K, the relevant amount of tax shall be calculated by the system.The values that are to be reported in Table 9 should be taxable value as reported under Table 7E of GSTR 9C, i.e. Adjusted Total turnover for the FY 2017-18 under the GST and the amount of tax (rate wise) should be derived mathematically.