Non gst supply
Query (Issue) Started By: – Madhavan iyengar Dated:- 8-1-2019 Last Reply Date:- 14-1-2019 Goods and Services Tax – GST
Got 2 Replies
GST
Securities are neither goods nor services hence should they not fall under non gst supplies, non gst supply is not defined in gst law
however for purpose of gst itc reversal in rules 1% of value of securities will be treated as exempt supply
Issue: Should sale of securities be shown under non gst supply or only 1% of sale value to be shown under exempt supply
Reply By KASTURI SETHI:
The Reply:
Which is nether supply of goods nor supply of services that is out of scope of GST. Out of GST means non-GST. Hence no question of exempt supply, taxable and non-taxable supply. The qu
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