Goods and Services Tax

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

Goods and Services Tax – Started By: – SHAHID HASHMI – Dated:- 9-10-2018 – 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.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 of export and we have got script

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