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Sale of meis licence in export

Krishna Gopal (student) (59 Points)

04 December 2017

Dear Sir,

What is the Rate of Tax on Sale of intangible Items like MEIS licenses and others from export incentive scheme. if any circular issued then provide me link

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14 Replies

VIKAS SAINI (1163 Points)
Replied 04 December 2017

Exempt

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Krishna Gopal (student) (59 Points)
Replied 04 December 2017

is there any circular

Krishna Gopal (student) (59 Points)
Replied 04 December 2017

if we sell our meis license to another person the what is the rate of tax

Rakesh Sarswath (Article Student-GST Specialization) (190 Points)
Replied 04 December 2017

Before 14.11.2017 it was taxable however as per updated rates notification sale of duty credit scrips are nil rated.

Check the recent rate of goods notification, SI NO.122A and HSN code 4907. Unable to attach the notification.

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VIKAS SAINI (1163 Points)
Replied 04 December 2017

Earlier tax rate is 5%but after 14.11.17 this is exempt from gst

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Ajitesh Ranjan (ARTICLE ASSISTANT (INTERN)) (65 Points)
Replied 03 January 2018

sir, please guide how to get MEIS LICENSE ?

Gouri Babar (2 Points)
Replied 03 March 2018

Is it exempt or nil rated. ? coz if they are exempt then it will attract Rule 42 and 43 workings.

Subra Srini (Article Assistant) (24 Points)
Replied 06 March 2018

It is exempt as per the Notification No 2/2017-Central Tax(Rate) Dated 28th June Read with Notification No 35/2017-Central Tax(Rate) Dated 13th October. You can refer the same.

Prateek maheshwari (Job) (2 Points)
Replied 28 August 2018

As per para 3.02 of FTP 2015-2020, duty credit scrips shall be granted as rewards under MEIS. The nature of MEIS is fully transferable and can be utilized as per para 3.02 of FTP 2015-2020.

In all it is a reward granted by the government to offset the infrastructural inefficiencies and associated costs.

Further, we have not utilized any goods or services or both for effecting exempt supplies under this act. It is a reward not goods and we have not avail any Input Tax Credit on it. Therefore, at the time of supply of MEIS as goods under HSN 4907 as exempt supply not fulfill the provision of Sec.17 (2) of the act.