The maximum amount of refund that can be claimed by a taxpayer on account of exports can be calculated using the following formula:
Refund Amount = (Export Turnover X Net input tax credit / Adjusted total turnover)
The maximum amount of refund that can be claimed by a taxpayer on account of exports can be calculated using the following formula:
Refund Amount = (Export Turnover X Net input tax credit / Adjusted total turnover)