Reversal under Rule 42
This query is : Resolved
Himmat Singh Rathore
(Querist)
24 October 2020
Dear Sir,
High seas sale is exempt supply or Non-GST Supply ?
Whether High seas sale consider for Input reversal under Rule 42 or not ?
High seas sale is exempt supply or Non-GST Supply ?
Whether High seas sale consider for Input reversal under Rule 42 or not ?
Lekhraj sood
(Expert)
24 October 2020
No , Not required.High sale is covered under schedule III and as per explanation in section 17(3)
Explanation.—For the purposes of this sub-section, the expression “‘‘value of exempt supply’’ shall not include the value of activities or transactions specified in Schedule III,
Explanation.—For the purposes of this sub-section, the expression “‘‘value of exempt supply’’ shall not include the value of activities or transactions specified in Schedule III,
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