we are selling duty credit scriptt issued under MEIS. is it taxable under GST.
i have did my own research and found that initially it was taxable at 12 % but afterwards it has been.made exempt. what is the current scenario of sale of DCS under GST.
5 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 22 October 2020
MEIS and other scrips like SEIS and IEIS are goods classified under heading 4907 and
attract 12% GST, which is the general GST rate for goods falling under heading 4907.
Subsequently, the duty credit scrips classifiable under 4907 were exempted from GST (Notification 35/2017 CT (r) while stock , share or bond certificates and similar documents of title [other than Duty Credit Scrips], classifiable under heading 4907, attract 12% GST.
Hence it's Exempted
attract 12% GST, which is the general GST rate for goods falling under heading 4907.
Subsequently, the duty credit scrips classifiable under 4907 were exempted from GST (Notification 35/2017 CT (r) while stock , share or bond certificates and similar documents of title [other than Duty Credit Scrips], classifiable under heading 4907, attract 12% GST.
Hence it's Exempted
CA Altamush Zafar
(GST Consultant)
(15976 Points)
Replied 22 August 2021
All types of supply whether Taxable or exempt or non gst supply have to be shown in GSTR-1.
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