Formula for reversing GST ITC Credit on Sale of MEIS/SEIS

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..... Formula for reversing GST ITC Credit on Sale of MEIS/SEIS
Query (Issue) Started By: - SHAHID HASHMI Dated:- 9-10-2018 Last Reply Date:- 1-12-2018 Goods and Services Tax - GST
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GST .....

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We are exporter. Hence we are getting MEIS/SEIS Script. We have planned to sale the same to other party. As per recent Notification, sales of script is come under exempted goods Chapter Heading No .....

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..... .4907. Our queries as follows: 1. Whether sale of the same is come under Section 17(2). 2. Whether we have to reverse GST ITC for the above sales. Since we are selling goods at zero rates in case o .....

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..... f export and we have got script based on export sales. Further neither we have taken any credit on purchase/issue of such script nor we have used any GST paid materials/services on sale of such script .....

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..... . 3. If so, what is the formula to be applied for reversing the GST ITC Script (if it is not 100% exempted). Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: In my view section 17(2) will not be appl .....

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..... icable in your case. Experts views are solicited.
Discussion Forum - Knowledge Sharing .....

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