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Sale of shares whether to be shown in turnover or not???
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....ale of shares whether to be shown in turnover or not???<br> Query (Issue) Started By: - Rajendra Prasad Dated:- 18-3-2020 Last Reply Date:- 26-5-2020 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>Sale of shares whether to be shown in turnover or not??? Reply By CAVenkataprasad Pasupuleti: The Reply: Declare it as nontaxable supply Reply By Kashish Gupta: The Reply: Dear Rajendra Pras....
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....ad Ji, In my view, it should be declared as "No Supply" because "securities" are exluded from the definition of "goods" as well as "services" given under clause 52 and 102 of section 2 of CGST Act, 2017. Further, definition of "non-taxable supply" under clause 78 of section 2 ibid starts with phrase "supply of goods or services or both"....
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..... Since it is neither a supply of goods nor a supply of services, it should be declared as "no supply". Reply By Rachit Agarwal: The Reply: Sales of Shares is niether goods nor service. Such transaction to be disclosed as under "Non GST Supply" Sales of shares do not form part of definition of "Aggregate Turnover" as defined u/s 2 of the CGST Act, 2017. Aggregate ....
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....Turnover only covers supply of goods or services whether taxable or exempted Reply By Ganeshan Kalyani: The Reply: In my view, no need to disclose the said transaction. Reply By MOHIT SINGHAL: The Reply: Not required as not goods or services as per gst act. Reply By YAGAY andSUN: The Reply: We are amenable with the views of our experts on this matter.<br> Discussion Forum - Knowledge Sharing....
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