Turnover of zero-rated supply of goods definition

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;
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, other than the turnover of supplies in respect of which refund is claimed under sub-rules (4A) or (4B) or both;
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 or the value which is 1.5 times the value of like goods domestically supplied by the same or, similarly placed, supplier, as declared by the supplier, whichever is less, other than the turnover of supplies in respect of which refund is claimed under sub-rules (4A) or (4B) or both;

Examples of Turnover of zero-rated supply of goods in a sentence

  • 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 or the value which is 1.5 times the value of like goods domestically supplied by the same or, similarly placed, supplier, as declared by the supplier, whichever is less, other than the turnover of supplies in respect of which refund is claimed under sub-rules (4A) or (4B) or both;‟.

  • 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 or the value which is 1.5 times the value of like goods domestically supplied by the same or, similarly placed, supplier, as declared by the supplier, whichever is less, other than the turnover of supplies in respect of which refund is claimed under sub-rules (4A) or (4B) or both;‟.


More Definitions of Turnover of zero-rated supply of goods

Turnover of zero-rated supply of goods means the value of zero-rated supply of
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;
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 or the value which is 1.5 times the value of like goods domestically supplied by the same or, similarly placed, supplier, as declared by the supplier, whichever is less, other than the turnover of supplies in respect of which refund is claimed underAdjusted Total Turnover” means Local Turnover + *Zero rated Turnover - Supplies for whichrefund is claimed under Rule 89(4A) and/or Rule 89(4B).* Zero Rated TO = TO of ZR supply of goods (as below) + TO of ZR supply of servicesHere, Turnover of zero-rated supply of goods = ₹6,00,000 (or) ₹5,00,000 X 1.5 = ₹7,50,000, whichever is lower i.e. ₹ 6,00,000and Adjusted Total Turnover = ₹28,00,000 (as computed in point 1 above)Thus, maximum refund amount under rule 89(4) = ₹5,32,000 x ₹6,00,000/ ₹28,00,000 =₹1,14,000. Nature of Various Intra-State supplies during April, 2021Value of Supply(Excluding GST)Outward Supply of Fabrics (Tax rate of CGST and SGST @ 2.5% each) Jai and Co, a registered supplier under GST, engaged in weaving yarn into fabrics has provided the following information:The concern has not provided any other supply other than the outward supply referred above.ITC in respect of all types of inward supply as given above was claimed in the relevant GSTR 3B as well as reflected in GSTR 2B.Other applicable conditions for claiming the refund are duly complied with.You are required to compute the ‘Maximum refund amount’ eligible under rule 89(5) of CGST Rules,2017 for inverted duty structure.Also provide working notes for your calculation.Note: No refund claimed under rule 89(3) or rule 89(4) of the CGST Rules, 2017.[ICAI Dec 21 – 5M]Solved Work Book – 10th Edition - Question No. 10 (Pg. No. 374)As per Rule 89(5) of CGST Rules, 2017 in the case of refund on account of inverted duty structure, refund of input tax credit shall be granted as per the following formula:-Maximum Refund =𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑜𝑓 𝑖𝑛𝑣𝑒𝑟𝑡𝑒𝑑 𝑟𝑎𝑡𝑒 𝑠𝑢𝑝𝑝𝑙𝑦 𝑜𝑓 𝑔𝑜𝑜𝑑𝑠 𝑜𝑟 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑠{(𝑁𝑒𝑡 𝐼𝑇𝐶 𝑋 − (𝑁𝑒𝑡 𝐼𝑇𝐶 𝑋)𝑎𝑑𝑗𝑢𝑠𝑡𝑒𝑑 𝑡𝑜𝑡𝑎𝑙 𝑡𝑢𝑟𝑛𝑜𝑣𝑒𝑟𝑇𝑎𝑥 𝑝𝑎𝑦𝑎𝑏𝑙𝑒 𝑜𝑛 𝑠𝑢𝑐ℎ 𝑖𝑛𝑣𝑒𝑟𝑡𝑒𝑑 𝑟𝑎𝑡𝑒 𝑠𝑢𝑝𝑝𝑙𝑦 𝑜𝑓 𝑔𝑜𝑜𝑑𝑠 𝑜𝑟 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑠𝐼𝑇𝐶 𝑎𝑣𝑎𝑖𝑙𝑒𝑑 𝑜𝑛 𝑖𝑛𝑝𝑢𝑡𝑠 𝑎𝑛𝑑 𝑖𝑛𝑝𝑢𝑡 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑠 )}Explanation: - For the purposes of this sub-rule, the expressions–

Related to Turnover of zero-rated supply of goods

  • Supply of goods means the transfer of the right to dispose of tangible property as owner.

  • Cost of Goods means the fully burdened cost to manufacture Compound or Drug Product, as applicable, (the “Supplied Product”) which means: (a) [ * ]; and (b) in the case of [ * ]. Actual unit costs shall consist of [ * ].

  • continuous supply of goods means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supply of such goods as the Government may, subject to such conditions, as it may, by notification, specify;

  • Collaborative pharmacy practice agreement means a written and signed

  • Manufacturing Cost means ***

  • Cost of Goods Sold means [ * ].

  • Manufacturing and Supply Agreement means the Manufacturing and Supply Agreement by and between Biogen and Bioverativ, in the form attached hereto as Exhibit C.

  • Collaborative practice agreement means a written agreement

  • Current Good Manufacturing Practices or “cGMP” means applicable Good Manufacturing Practices as specified in the United States Code of Federal Regulations and/or the EU Good Manufacturing Guidelines, and any successor legislation from time to time, prevailing at the time of the manufacture of the Product.

  • Manufacturing Costs means, with respect to a given AquaBounty Product, the full-time equivalent costs (under a reasonable accounting mechanism to be agreed upon by the Parties) and out-of-pocket costs that AquaBounty or any of its Affiliates incurred in manufacturing such products, including costs and expenses incurred in connection with (a) the development or validation of any manufacturing process, formulations or delivery systems, or improvements to the foregoing; (b) manufacturing scale-up; (c) in-process testing, stability testing and release testing; (d) quality assurance/quality control development; (e) internal and Third Party costs and expenses incurred in connection with qualification and validation of Third Party contract manufacturers, including scale up, process and equipment validation, and initial manufacturing licenses, approvals and inspections; (f) packaging development and final packaging and labeling; (g) shipping configurations and shipping studies; and (h) overseeing the conduct of any of the foregoing. “Manufacturing Costs” shall further include: (i) to the extent that any such AquaBounty Product is manufactured by a Third Party manufacturer, the out-of-pocket costs incurred by AquaBounty or any of its Affiliates to the Third Party for the manufacture and supply (including packaging and labeling) thereof, and any reasonable out-of-pocket costs and direct labor costs incurred by AquaBounty or any of its Affiliates in managing or overseeing the Third Party relationship determined in accordance with the books and records of such Party or its Affiliates maintained in accordance with US GAAP; and (ii) to the extent that any such AquaBounty Product is manufactured by AquaBounty or any of its Affiliates, direct material and direct labor costs attributable to such product, as well as reasonably allocable overhead expenses, determined in accordance with the books and records of AquaBounty or its Affiliates maintained in accordance with US GAAP.

  • Fully Burdened Manufacturing Cost means, with respect to any Licensed Product supplied by or on behalf of NVCR to Zai hereunder if such Licensed Product (or any precursor or intermediate thereof) is manufactured by a Third Party manufacturer [***].

  • Clinical Supply Agreement has the meaning set forth in Section 4.2.

  • Educator practice instrument means an assessment tool that provides: scales or dimensions that capture competencies of professional performance; and differentiation of a range of professional performance as described by the scales, which must be shown in practice and/or research studies. The scores from educator practice instruments for teaching staff members other than teachers, Principals, Vice Principals, and Assistant Principals may be applied to the teaching staff member’s summative evaluation rating in a manner determined by the school district.

  • Bondable stranded costs rate order means one or more

  • Manufacturing Agreement has the meaning set forth in Section 4.3.

  • Manufacturing Process means any process for—

  • Quality Agreement has the meaning set forth in Section 9.6.

  • Tobacco product manufacturer means an entity that after the date of enactment of this Act directly (and not exclusively through any affiliate):

  • Manufacturing Services means the manufacturing, quality control, quality assurance, stability testing, packaging, and related services, as set forth in this Agreement, required to manufacture Product or Products using the Active Materials, Components, and Xxxx Back Items;

  • Tobacco products means cigars, cigarettes, cheroots, stogies, periques, granulated, plug cut, crimp cut, ready rubbed, and other smoking tobacco, snuff, snuff flour, moist snuff, cavendish, ping and twist tobacco, fine-cut and other chewing tobaccos, shorts, refuse scraps, clippings, cuttings and sweepings of tobacco, and other kinds and forms of tobacco, prepared in such manner as to be suitable for chewing or smoking in a pipe or otherwise, or both for chewing and smoking.

  • MSAA Indicator Technical Specifications document means, as the context requires, either or both of the document entitled “Multi-Sector Service Accountability Agreement (MSAA) 2019-20 Indicator Technical Specifications November 5, 2018 Version 1.3” and the document entitled “Multi-Sector Service Accountability Agreement (MSAA) 2019-20 Target and Corridor-Setting Guidelines” as they may be amended or replaced from time to time;

  • Manufacturing Facility means buildings and structures, including machinery and equipment, the primary purpose of which is or will be the manufacture of tangible goods or materials or the processing of such goods or materials by physical or chemical change.

  • Milk product or "dairy product" means cottage cheese, dry curd cottage cheese, reduced fat cottage cheese, lowfat cottage cheese, cream, light cream, light whipping cream, heavy cream, heavy whipping cream, whipped cream, whipped light cream, sour cream, acidified sour cream, cultured sour cream, half-and-half, sour half-and-half, acidified sour half-and-half, cultured sour half-and-half, reconstituted or recombined milk and milk products, concentrated milk, concentrated milk products, skim milk, lowfat milk, frozen milk concentrate, flavored milk, eggnog, buttermilk, cultured milk, cultured lowfat milk, cultured skim milk, yogurt, lowfat yogurt, nonfat yogurt, acidified milk, acidified lowfat milk, acidified skim milk, low-sodium milk, low-sodium lowfat milk, low-sodium skim milk, lactose-reduced milk, lactose-reduced lowfat milk, lactose-reduced skim milk, aseptically processed and packaged milk, milk products with added safe and suitable microbial organisms, and any other milk product made by the addition or subtraction of milkfat or addition of safe and suitable optional ingredients for protein, vitamin, or mineral fortification. Unless a product is considered a milk product under this subdivision, milk product does not include dietary products, infant formula, ice cream or other desserts, cheese, or butter. Milk products include the following:

  • Finished Products means any one or more of the following petroleum oils, or a mixture or combination of these oils, to be used without further processing except blending by mechanical means:

  • Final Product means a reasonably homogenous cannabis product in its final packaged form created using the same standard operating procedures and the same formulation.

  • Manufacturing Know-How means all information, techniques, inventions, discoveries, improvements, practices, methods, knowledge, skill, experience and other technology, whether or not patentable or copyrightable, and any copyrights based thereon, relating to or necessary or useful for the production, purification, packaging, storage and transportation of Collaboration Products, including without limitation specifications, acceptance criteria, manufacturing batch records, standard operating procedures, engineering plans, installation, operation and process qualification protocols for equipment, validation records, master files submitted to the FDA, process validation reports, environmental monitoring processes, test data including pharmacological, toxicological and clinical test data, cost data and employee training materials.