Dear Sir
What is the GST Rate on Sale of MEIS (Export Scripts)
GST Exemption: Sale of MEIS Scrips Under HSN 4907 is Nil Rated, Requires ITC Reversal if Availed A query was raised about the Goods and Services Tax (GST) rate on the sale of Merchandise Exports from India Scheme (MEIS) export scrips. Three responses clarified that the sale of MEIS scrips is exempt from GST. It was noted that the GST is nil rated under HSN 4907, and there is no GST liability on the sale of MEIS or SEIS scrips. However, if any Input Tax Credit (ITC) was availed during the procurement of these scrips, it must be reversed proportionately. (AI Summary)
Goods and Services Tax - GST