Is income tax required to be paid on sale of Meis scrips?
Is this sale now subject to GST ?
Replies (2)
Quick Summary
This discussion clarifies the tax implications of selling MEIS scrips. While MEIS scrips are subject to income tax and must be included in income tax computations, they are not subject to Goods and Services Tax (GST). You should report these sales in your GSTR1 and GSTR3B, but no GST payment is required.