I have to apply a GST refund application in which formula is given. As per formula adjusted turnover what is meaning. My client firm turnover is inverted item 2 crore and non inverted item is Rs. 1 crore. Whether in adjusted turnover amount will be 3 crore or 2 crore as per rule 89(5)...
In this case, adjusted turnover will be Rs. 3 crore.