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GSTR 1

28 May 2018

DEPB/MEIS sale to be shown under exempted sale or zero rated sale or Nil rated sale ?
kindly suggest me.

Regards
P Srinivas
Kakinada.

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2 Replies

Surjeet Negi (947 Points)
Replied 28 May 2018

Credit Scrips are specifically covered under gst rate schedule as nil rate.
Thus shall qualify as exempt supply only i believe for which reversal is must.

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Subhkaran Surana (343 Points)
Replied 29 May 2018

As per section 2(47) of the CGST act , 2017, it is exempt sales since it is nil rated.

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