Hello All, We are exporter. We received export Incentive in the form of MEIS Script. On Receipt of MEIS Script, we sale it to third party. Now my query is How to post entries in tally under GST on receiving of MEIS Script and sale of MEIS Script to third party.
02 January 2019
Duty credit scrips are classified under HSN 4907 and they are exempted from the whole of GST by an amendment to Notification 2/2017-CT (R) dated 28th June 2018 by notification 35/2017CT (R) dated on 13 October 2017. It is important to note that duty credit scrips are held to be ‘goods’ for the purposes of GST.
CAclubindia
