Nil rated and Exempted supplies
Sreenivas Mamillapalli (3 Points)
06 July 2017Sreenivas Mamillapalli (3 Points)
06 July 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176622 Points)
Replied 06 July 2017
Exempt supply includes Nil rated (taxable at 0%) and non-Taxable supplies.
Section 2(42): Exempt Supplies: This has been defined to mean supply of any goods and/or services which are not taxable under this Act and includes such supply of goods and/or services which attract nil rate of tax or which may be exempt from tax under section 11.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 06 July 2017
No more diffrence in GST....
Difference only in previous Tax regimes like VAT.....
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 06 July 2017
Sreenivas Mamillapalli
(3 Points)
Replied 06 July 2017
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 06 July 2017
Originally posted by : saloni | ||
Zero Rated Supply- Exports and supplies to SEZ Nil Rated Supplies- Rate of which is defined as "Nil" Exempt Supply- Wholly exempt from tax or non taxable under this Act. It includes Nil rated Supplies also. |
/forum/regarding-registration--398087.asp
CA Bijay Shrestha
(Never Give up....No matter what....)
(858 Points)
Replied 06 July 2017
If fully exempted Dealer wants to register voluntarily and opts for Composition Levy, he has to pay tax on his turnover eveni if his all products are exempted. Also If he purchases any items from URD, he has to pay Tax on RCM basis.
In both the cases, Taxes paid by him becomes COST to him.
Which is beneficial for him - Normal Scheme OR Composition Scheme ?
Ashim kr Ray
(social service)
(1695 Points)
Replied 10 July 2017
Sir,
A wholeseller of onion an potato , whether he has to take gst as his product is fully NIL tax in gst.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176622 Points)
Replied 10 July 2017
If he deals only in non-taxable supplies......... no need to register under GST.......... even if his turnover in Assam exceeds 10 lakhs......
EKALABYA TALUKDAR
(SERVICE TAX CONSULTANT)
(666 Points)
Replied 24 August 2017
RLEASE GIVE SOME EXAMPLES ON EACH CATAGORY
AS WE CAN UNDERSTAND MORE CLEARLY
hitesh yadav
(6 Points)
Replied 08 September 2017
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India