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any business man deal 0 rated gst item .then what's the liabilities for his business?

sukdeb dasadhikary (11 Points)

27 July 2017

any business man deal 0 rated gst item .then what's the liabilities for his business?pls suggest

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3 Replies

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 27 July 2017

pls clarify by 0 rated you means export or exempted goods??? there is a lot difference between 0 rated and exempted (nil rated) goods.

Dr. Bulusu Satyanarayana Murth (Executive Director) (22 Points)
Replied 27 July 2017

Sir, We are involved in export of IT (Information Technology Services) exclusively to the United States and our turnover is less than 240,000 USD. So far we have been filing only the Quarterly Service Tax Returns, as IT / ITES are Exempted (Nil rated) Goods. We raise our invoices on a monthly basis. Kindly enlighten me on "what we need to do as a matter of Compliance'.