GST Turnover for F&O

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Manager
24 Points Posted on 16 November 2023

Hi Everyone,

Seeking guidance for our client's GST return filing.

Private Limited company has started F&O trading.

Is it required to mention this in monthly GSTR-1? If yes where should we mention this

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On 16 November 2023 at 11:16 Report
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Quick Summary
This discussion clarifies whether a private limited company trading in Futures & Options (F&O) needs to declare this turnover in its monthly GSTR-1. While some advise including it as a taxable supply, others suggest that transactions in securities are out of scope for GST and should be shown under exempted or nil-rated supplies.

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Chartered Accountant
10505 Points Posted on 16 November 2023

Yes, a private limited company that has started F&O trading is required to mention this in its monthly GSTR-1. This is because F&O trading is considered a taxable supply under the GST regime

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On 16 November 2023 at 13:04
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CFO- at NHTF
58280 Points Posted on 17 November 2023
You may sum all net positions for the month and declare in GST Returns since F & O trading is treated as normal business income as per income tax act
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On 17 November 2023 at 08:15
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137 Points Posted on 17 November 2023
No need to show F&O turnover in your GST Return....ant transaction in securities is out of scope of Supply under GST.
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On 17 November 2023 at 09:58
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CFO- at NHTF
58280 Points Posted on 18 November 2023
Show it under exempted or nil rates supply
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On 18 November 2023 at 15:00
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Manager
24 Points Posted on 20 November 2023

Thanks for your guidance to all of you :) 

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On 20 November 2023 at 18:57

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