Does GST registration includes speculative turnover of shares

Registration 1251 views 4 replies

an individual has 18 lacs gst turnover and 300000 turnover on account of intra day trading .

wil gst be applicable ?

acc to me , it will not be as shares are not covered under definition of goods

Replies (4)
No GST will not be applicable. In ITR, it will shown under Turnover from speculative business.
For registration we have to refer section 22 which refers word aggregate turnover and it includes exempt supplies as well.

Further definition of exempt supplies includes non taxable supplies also.

Combination of both gives an interpretation that you have to register under GST.
Note that Shares and Securities are neither treated as Goods [ 2(52) ] nor Services [ 2(102) ] under GST. They are "Non-Taxable Supply".

Aggregate Turnover as defined u/s 2(6) of the CGST Act 2017 also includes EXEMPT SUPPLY.

The term Exempt Supply has been defined u/s 2(47) of the CGST Act 2017 as "exempt supply" means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt from tax under Section 11, or under Section 6 of the Integrated Goods and Services Tax Act, and includes NON-TAXABLE SUPPLY".

Hence by analysing the definition of Exempt Supply, we come to know that Non Taxable Supply is also included in the category of Exempt Supply.

And as per the Provision of Section 22 of the CGST Act 2017 [ PERSONS LIABLE FOR REGISTRATION ], A Person is required to get himself registered under GST if his Aggregate Turnover exceeds Rs. 20 lakhs.

Therefore, since your Aggregate Turnover exceeds Rs. 20 lakhs ( i.e. Rs. 18L + 4L = Rs.22L ), you are required to get yourself registered under GST.

Different views, if any, are invited...

Warm Regards.
thanks Shivam / uttam for the detailed reply , in view of ur reply . I would like to suggest ,

pls see section 7 defining what is supply ?

n that is about n goods and services . N goods and services does not include shares .

so non taxable supply does not include shares transactions .


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