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Reversal under Rule 42

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(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 ?
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Lekhraj sood

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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,
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