In  GSTR RFD-01A  what is the meaning of Turnover of Zero Rated supply of goods(Col -1), and Adjusted Turnover(Col-3), as we are planning to apply for Refund of Input GST credits for JUly 2017, as we are exporters.

Pl. see rule 89(4) of CGST Rules which provides for the meaning of these terms.

Rule 89(4) of CGST Rules :-

(4) In the case of zero-rated supply of goods or services or both without payment of tax under bond or letter of undertaking in accordance with the provisions of sub-section (3) of section 16 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), refund of input tax credit shall be granted as per the following formula –

Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) × Net ITC ÷Adjusted Total Turnover

Where,-

(A)		“Refund amount” means the maximum refund that is admissible;
(B)		“Net ITC” means input tax credit availed on inputs and input services during the relevant period;
(C)		“Turnover of zero-rated supply of goods” means the value of zero-rated supply of goods made during the relevant period without payment of tax under bond or letter of undertaking;
(D)		“Turnover of zero-rated supply of services” means the value of zero-rated supply of services made without payment of tax under bond or letter of undertaking, calculated in the following manner, namely:—
		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 supply of services where supply has been completed for which payment had been received in advance in any period prior to the relevant period reduced by advances received for zero-rated supply of services for which the supply of services has not been completed during the relevant period;
(E)		“Adjusted Total turnover” means the turnover in a State or a Union territory, as defined under 1[clause](112) of section 2, excluding the value of exempt supplies other than zero-rated supplies, during the relevant period;
(F)		“Relevant period” means the period for which the claim has been filed.

1. Substituted for “sub-section” by the Central Goods and Services Tax (Fourth Amendment) Rules, 2017, w.r.e.f. 1-7-2017.

Section 2(112) of CGST act :-

(112)

“turnover in State” or “turnover in Union territory” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis) and exempt supplies made within a State or Union territory by a taxable person, exports of goods or services or both and inter-State supplies of goods or services or both made from the State or Union territory by the said taxable person but excludes central tax, State tax, Union territory tax, integrated tax and cess;

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