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 and SUN]

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 on sale of export duty credit scrips is nil-rated/exempt, with proportionate reversal of related input tax credit required.
Sale of MEIS/SEIS duty credit scrips is treated as nil-rated/exempt for GST (classified under HSN 4907), so no GST is payable on the transfer; nonetheless, any Input Tax Credit claimed on procurements related to such scrips must be proportionately reversed.