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GST on sale of DUTY CREDIT SCRIPT under MEIS

Prabneet Singh (8 Points)

20 October 2020  
we are selling duty credit scriptt issued under MEIS. is it taxable under GST.
i have did my own research and found that initially it was taxable at 12 % but afterwards it has been.made exempt. what is the current scenario of sale of DCS under GST.

 5 Replies

Gaurav Sharma (155 Points)
Replied 20 October 2020

Exempt

Pankaj Rawat (GST Practitioner) (51634 Points)
Replied 22 October 2020

MEIS and other scrips like SEIS and IEIS are goods classified under heading 4907 and
attract 12% GST, which is the general GST rate for goods falling under heading 4907.
Subsequently, the duty credit scrips classifiable under 4907 were exempted from GST (Notification 35/2017 CT (r) while stock , share or bond certificates and similar documents of title [other than Duty Credit Scrips], classifiable under heading 4907, attract 12% GST.

Hence it's Exempted

userrr (Accountant) (117 Points)
Replied 21 August 2021

is it required to shows in GSTR-01

Pankaj Rawat (GST Practitioner) (51634 Points)
Replied 22 August 2021

Yes ....

 

CA Altamush Zafar (GST Consultant) (10923 Points)
Replied 22 August 2021

All types of supply whether Taxable or exempt  or non gst supply have to be shown in GSTR-1.


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