Sale of shares whether to be shown in turnover or not???, Goods and Services Tax - GST

[Rajendra Prasad]

Sale of shares whether to be shown in turnover or not???

Posts / Replies

[CAVenkataprasad Pasupuleti]

Declare it as nontaxable supply

[Kashish Gupta]

Dear Rajendra Prasad Ji,

In my view, it should be declared as "No Supply" because "securities" are exluded from the definition of "goods" as well as "services" given under clause 52 and 102 of section 2 of CGST Act, 2017.

Further, definition of "non-taxable supply" under clause 78 of section 2 ibid starts with phrase "supply of goods or services or both". Since it is neither a supply of goods nor a supply of services, it should be declared as "no supply".

[Rachit Agarwal]

Sales of Shares is niether goods nor service.

Such transaction to be disclosed as under "Non GST Supply"

Sales of shares do not form part of definition of "Aggregate Turnover" as defined u/s 2 of the CGST Act, 2017. Aggregate Turnover only covers supply of goods or services whether taxable or exempted

[Ganeshan Kalyani]

In my view, no need to disclose the said transaction.

[MOHIT SINGHAL]

Not required as not goods or services as per gst act.

[YAGAY andSUN]

We are amenable with the views of our experts on this matter.