Sir,
I Have sold the certificate Issued by DGFT against export. The certificate is under Merchant Export Incentive scheme.
I want to sell the said certificate, please let me know whether said is taxable under GST ?? if Applicable , under Goods of Srvice, and rate of Tax ??
Sale of MEIS Licenses Exempt from GST per Notification 35/2017, but Rule 42 Requires Credit Reversal for Mixed Supplies. A participant in a discussion forum inquired about the Goods and Services Tax (GST) implications of selling a certificate issued under the Merchant Export Incentive Scheme (MEIS). One respondent clarified that the sale of MEIS licenses is exempt from GST under Notification No. 35/2017 CE (Rate), effective from October 13, 2017. Another respondent added that while the sale is exempt, Rule 42 of the CGST Rules 2017 requires reversing common credits if both taxable and exempt supplies are provided. A final comment expressed appreciation for the detailed explanation. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
