https://www.taxtmi.com/forum/issue?id=114464 Securities are not goods or services and thus are non-GST (out of scope) supplies; nevertheless, for the limited purpose of ITC reversal under section 17(3) and Chapter V of the CGST Rules, the value of a security is prescribed as a nominal fraction of its sale value to be treated as the value of "exempt supply." This distinction raises disclosure questions for GSTR-1 and GSTR-3B-whether sales of securities should be shown as out-of-scope supplies or under exempt-supply heads-and analogous questions arise for interest income reporting. en-us Tue, 08 Jan 2019 08:18:20 +0530 Thu, 23 Jan 2025 15:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114464 Securities are not goods or services and thus are non-GST (out of scope) supplies; nevertheless, for the limited purpose of ITC reversal under section 17(3) and Chapter V of the CGST Rules, the value of a security is prescribed as a nominal fraction of its sale value to be treated as the value of "exempt supply." This distinction raises disclosure questions for GSTR-1 and GSTR-3B-whether sales of securities should be shown as out-of-scope supplies or under exempt-supply heads-and analogous questions arise for interest income reporting. Discussion-Forum GST Tue, 08 Jan 2019 08:18:20 +0530 https://www.taxtmi.com/forum/issue?id=114464