GST – Started By: – Madhavan iyengar – Dated:- 8-1-2019 Last Replied Date:- 14-1-2019 – Securities are neither goods nor services hence should they not fall under non gst supplies, non gst supply is not defined in gst lawhowever for purpose of gst itc reversal in rules 1% of value of securities will be treated as exempt supplyIssue: 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 question of exemption from GST, taxability or non-taxability arises only if it i
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