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<h1>Exempt Supplies Under GST Rules 42 & 43 Include Reverse Charge Transactions, Securities, and Specific Land Sales.</h1> Exempt supplies under Rules 42 and 43 of the GST framework include supplies where the recipient pays tax on a reverse charge basis, transactions in securities, sale of land, and certain building sales. The value of exempt supplies is determined by the stamp duty value for land and buildings and 1% of the sale value for securities. Exclusions from exempt supplies cover specific services, such as those involving interest or discounts from financial institutions, transportation of goods by vessel from India, and Duty Credit Scrips. These provisions are subject to updates and notifications altering their applicability.