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Asawari (Querist)
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11 August 2018 Please solve my doubts,

1) Whether Reverse Charge has been fully excluded for November, 2018 exams?

2) i)Whether value of supply of service & goods portion in supply in construction of complex service involving
transfer of property in land/ undivided share of land & ii) value of supply of lottery has been excluded?

3) Insurance policy with investment, is it a security so as to get excluded from the definition of Goods - S.2(52)

4) Whether both GST & State Excise duties will be levied on Opium, Narcotic drugs?

5) Whether GST is levied on renting of house by a person who is not in the business of letting of houses (not in course or furtherance of business)?

Asawari

Asawari (Querist)
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12 August 2018 Please
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Early

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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12 July 2024 It seems like you have a series of queries related to specific aspects of GST. Let's address each question one by one:

### 1. Reverse Charge Mechanism (RCM) in November 2018 Exams

The Reverse Charge Mechanism (RCM) under GST refers to a mechanism where the recipient of goods or services is liable to pay GST instead of the supplier. As of my last update in January 2022, RCM applicability has undergone several changes since the implementation of GST.

- **November 2018 Exams**: For specific details regarding the applicability of RCM in November 2018, I would recommend checking the latest GST notifications, circulars, or updates from the official GST portal or consulting with a GST expert. Regulations and exemptions related to RCM may have evolved since November 2018.

### 2. Value of Supply Exclusions

#### i) Construction of Complex Service
- The value of supply involving the construction of a complex service (involving transfer of property in land or undivided share of land) is subject to GST. However, specific provisions and exemptions may apply based on the nature of the transaction and relevant notifications.

#### ii) Value of Supply of Lottery
- As of my last update, lotteries were subject to a special tax regime under GST, with specific rates and provisions. The value of supply of lottery tickets is generally included in the tax calculation unless exempted under special provisions.

### 3. Insurance Policy with Investment

- Insurance policies with an investment component may qualify as financial services under GST. Financial services are typically excluded from the definition of goods under Section 2(52) of the CGST Act. However, specific conditions and definitions apply, and it's advisable to consult with a GST expert for detailed guidance.

### 4. GST and State Excise Duties on Opium and Narcotic Drugs

- Opium and narcotic drugs are subject to both GST and state excise duties under specific provisions and classifications. The taxation on such products is regulated by central and state governments, often under controlled substance laws and GST regulations.

### 5. GST on Renting of House by Non-Business Entity

- Renting of residential properties by individuals who are not engaged in the business of renting houses (not in course or furtherance of business) is generally exempt from GST. However, specific conditions may apply, and it's recommended to verify with the latest GST regulations or consult with a tax professional.

### Conclusion

For accurate and up-to-date information on GST and related queries, it's essential to refer to the latest notifications, circulars, and updates from the official GST portal (gst.gov.in) or consult with a GST expert. The GST landscape can change with amendments and notifications, so staying informed is crucial for compliance and understanding.

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