GST on sale of RODTEP duty credit licence

entry number please for exemption

How we will enter the invoice of Sale of RoDTEP scrips in our Gstr-1????????????????

Please share Any Notification...

GST applicability: - Yes, GST is applicable on the sale of Duty Credit Licenses (RoDTEP). - HSN code 49070090 falls under the category of "Other" which is taxable under GST. - GST rate will be applicable as per the notified rate for "Other" category, currently 18%. Value for GST: -

 GST will be applicable on the transaction value, which is the market-determined rate at which you sell the RoDTEP. -

If sold at a discount, the discount amount will be deducted from the transaction value to arrive at the taxable value. 

Accounting for loss on sale: - If sold at a loss, the loss can be accounted for as a business expense. - If sold at a profit, the profit will be taxable under GST. 

Please consult a tax expert or chartered accountant for specific guidance on this matter, as GST laws and regulations are subject to change. 

Additionally, you may want to consider the following: - RoDTEP is a scheme under the FTP (Foreign Trade Policy), and specific conditions may apply. -

 Consult the GST notifications and circulars related to RoDTEP for specific guidance. - Keep accurate records of the transaction value, discount, and taxable value for GST purposes.

When entering the invoice for the sale of RoDTEP scrips in GSTR-1, follow these steps:

 1. Select the invoice type: "Supply of Goods" (even though RoDTEP scrips are not physical goods, they are treated as goods under GST).

2. Enter the invoice details: - Invoice number and date - Customer details (name, GSTIN, etc.) - Descripttion of goods: Mention "RoDTEP Scrips" or "Duty Credit Licenses" - HSN code: 49070090 - Quantity: Number of scrips sold - Unit price: Market-determined rate per scrip - Total value: 

Calculate the total value based on the unit price and quantity - GST rate: 18% (currently) - GST amount: 

Calculate the GST amount based on the total value and GST rate 

3. Select the appropriate tax category: - "Taxable" (if the sale is subject to GST) 

4. Enter the discount amount (if applicable): - If you sold the scrips at a discount, enter the discount amount in the "Discount" field 

5. Calculate the taxable value: - Taxable value = Total value - Discount (if applicable) 

6. Enter the GSTount: - GST amount = Taxable value x GST rate

7. Save and submit the invoice details in GSTR-1. 

ensure accurate reporting, as GST laws and regulations are subject to change. 

When entering the invoice for the sale of RoDTEP scrips in GSTR-1, follow these steps:

 1. Select the invoice type: "Supply of Goods" (even though RoDTEP scrips are not physical goods, they are treated as goods under GST).

2. Enter the invoice details: - Invoice number and date - Customer details (name, GSTIN, etc.) - Descripttion of goods: Mention "RoDTEP Scrips" or "Duty Credit Licenses" - HSN code: 49070090 - Quantity: Number of scrips sold - Unit price: Market-determined rate per scrip - Total value: 

Calculate the total value based on the unit price and quantity - GST rate: 18% (currently) - GST amount: 

Calculate the GST amount based on the total value and GST rate 

3. Select the appropriate tax category: - "Taxable" (if the sale is subject to GST) 

4. Enter the discount amount (if applicable): - If you sold the scrips at a discount, enter the discount amount in the "Discount" field 

5. Calculate the taxable value: - Taxable value = Total value - Discount (if applicable) 

6. Enter the GSTount: - GST amount = Taxable value x GST rate

7. Save and submit the invoice details in GSTR-1. 

ensure accurate reporting, as GST laws and regulations are subject to change. 

Rodtep is Exempt under the GST by Circular No. 46/20/2018-GST.

the duty credit scrips classifiable under 4907 were exempted from GST, while
stock, share or bond certificates and similar documents of title [other than Duty Credit Scrips],
classifiable under heading 4907, attract 12% GST