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.
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GST on sale of DUTY CREDIT SCRIPT under MEIS
Replies (5)
Exempt
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
is it required to shows in GSTR-01
Yes ....
All types of supply whether Taxable or exempt or non gst supply have to be shown in GSTR-1.
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