MEIS licenses, Goods and Services Tax - GST

[Kusalava InternationalLimited]

What is the Rate of Tax on Sale of intangible Items like MEIS licenses and others from export incentive scheme.

Posts / Replies

[Kishan Barai]

No Tax on transferring MEIS license to other Importer / Exporter as it is done online but MEIS Broker do charge for their services, for those services charge 18% would be attracted

[MUKUND THAKKAR]

please check your items under which items you had obtain MEIS and charged GST accordingly for sales of MEIS.

[Sunil Godbole]

The reply was "please check your items under which items you had obtain MEIS and charged GST accordingly for sales of MEIS."

If we export "GST Exempted Goods" then there will not be any tax

and if we export GST 5% rated Goods" then there will be 5% GST:

Is this the correct interpretation ?

[Rahul Agrawal]

GST Rate on MEIS might be 12% same is not clear yet.

Read this article it might help you.

http://www.business-standard.com/article/economy-policy/sale-of-scrips-under-export-promotion-schemes-to-attract-12-gst-117080400040_1.html

[Ganeshan Kalyani]

Duty Credit Scrips fall under HSN 4907 attracting GST@NIL , as given under Notification no. 2/2017-CTR dated 28.06.2017 as updated from time to time. Thanks.