Expempt Sale & Income


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Quick Summary
This discussion clarifies the distinction between exempt sales and exempt income. Exempt sales are transactions where no Goods and Services Tax (GST) is applicable. Similarly, exempt income refers to earnings that are not subject to income tax. Both concepts mean no tax is payable, but they apply to different tax regimes.

27 April 2023 Dear Sir,

What is the difference between exempted sale and exempted income.


27 April 2023 In GST no GST payable on exempt sale.
Under income tax no tax payable on exempt income.

27 April 2023 Thank you very much Sir,

28 April 2023 You are welcome...
....


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