GST on Sale of MEIS

[Rajendra Prasad]

Dear Sir

What is the GST Rate on Sale of MEIS (Export Scripts)

[SHARAD ANADA]

It's nil rated with HSN 4907

[Ganeshan Kalyani]

Yes, the GST is exempt on duty credit scrips.

[YAGAY andSUN]

There is no GST liability on sale of MEIS or SEIS Scrip, however, any associated ITC if availed on procurement of such scrips needs to be reversed, proportionately.

AI Summary

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.