being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), except supplies of goods or services ... zero-rated supplies of goods or services or both or on inputs or input services used in making such zero-rated supplies, or refund
Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷ Adjusted Total Turnover Where, - (A) "Refund amount" means ... Zero-rated supply of services is the aggregate of the payments received during the relevant period for zero-rated supply of services and zero-rated
tabulated as below:
Exempted supplies Zero rated supplies
"exempt supply" means "zero rated supply" shall
supply of any goods or have ... making zero-
ITC on the exempted rated supplies, even if such
supplies supply is an exempt supply
IIC allowed on zero-rated
supplies
making
zero-rated supplies, notwithstanding that such
supply may be an exempt supply.
(3)A registered person making zero rated supply
shall be eligible ... 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
making
zero-rated supplies, notwithstanding that such
supply may be an exempt supply.
(3)A registered person making zero rated supply
shall be eligible ... 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
rate
of tax on inputs being higher than the rate of tax on
output supplies (other than nil rated or fully exempt
supplies), except supplies ... Section 54 covers four cases of refund: (a) refund of tax
paid on zero-rated supplies of goods or services; (b) refund of tax paid
zero-rated supplies of goods or services or both
or on inputs or input services used in making such zero-rated supplies, or
refund ... reproduced below:-
“16. Zero-rated supply:
(1) “Zero-rated supply” means any of the following
supplies of goods or services or both namely:-
(a) export
zero-rated
supplies of goods or services or both or on inputs or
input services used in making such zero-rated supplies,
or refund ... zero-rated supply'. The same is
extracted below for ready reference:
"16. Zero rated supply.--(1) "zero rated supply"
means
making zero-rated supplies, notwithstanding that
such supply may be an exempt supply.
(3) A registered person making zero rated supply
shall be eligible ... 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
under:
Section 16 . Zero rated supply
(3) A registered person making zero rated supply shall be
eligible to claim refund under either of the following ... unit is a “Zero Rated
Supply”. As a person making Zero Rated Supply, petitioner claimed refund
under Section 16(3)(b) of the IGST
