What is difference between under gst
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2017
what is difference between Nil rated or Zero rated under GST.
B Vinay Reddy
(Expert)
21 November 2017
Dear Mr.Dayanand,
Nil Rated
It is the supply of goods and services that have 0% GST.
Example: Grains, salt, jaggery etc.
Zero Rated
Zero Rated Supplies include:
- supplies made to any country other than India;
- supplies made to customers located in Special Economic Zones (SEZ) or SEZ Developers; and
- supplies made as Deemed exports.
Regards
Vinay Reddy
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21 November 2017
Nil rated means exempted supply whereas Zero rated is not an exempt supply it is normally taxable under GST but no tax is levied on them for the purpose of promoting exports and supplies made to SEZ.
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