what is diff between exempted goods & 0% rate goods can any provide list of exempted goods & 0 % rated goods as on today .
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Diff between Exempted goods & O rate
Replies (3)
Quick Summary
Exempted Goods:
These goods are completely exempt from GST.
No GST is levied on these goods.
Input tax credit (ITC) cannot be claimed for exempted goods.
Examples: Agricultural produce, funeral services, and educational services.
0% Rated Goods:
These goods are taxable under GST but at a rate of 0%.
GST is levied, but the rate is 0%.
Input tax credit (ITC) can be claimed for 0% rated goods.
Examples: Export of goods and services is typically zero-rated.
Some of zero rated goods..
- Basic Food Items: Many staples like bread, milk, eggs, and fruits and vegetables.
- Children’s Clothing and Footwear: Items designed for children, often up to a certain age.
- Books and Printed Materials: Certain educational books, newspapers, and magazines.
- Medical Supplies: Items like prescripttion medications and some medical equipment.
- Certain Agricultural Products: Seeds, fertilizers, and specific farm-related items.
- Public Transport: Tickets for public transportation, including buses and trains.
- Exports: Goods sold to customers outside the country.
- Certain Services: Services related to health care and education may also be zero-rated.
Exempted Goods
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Agricultural Products
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Fresh fruits and vegetables
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Cereals and pulses
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Milk and dairy products
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Meat and fish
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Services Related to Agriculture
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Services by farmers in relation to agriculture
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Educational Services
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Services provided by educational institutions
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Vocational training services
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Healthcare Services
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Services provided by hospitals and healthcare facilities
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Medicines and medical equipment (in some cases)
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Public Services
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Services provided by the government (like municipal services)
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Handicrafts
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Hand-made goods and local artisans' products
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Certain Food Items
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Unbranded food items
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Exempted Services
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Health and Medical Services
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Services provided by health care professionals and hospitals
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Educational Services
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Services provided by recognized educational institutions
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Religious Services
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Services provided by places of worship
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Transport Services
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Services provided by public transport, like buses and trains (in some cases)
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Charitable Activities
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Services by charities and non-profit organizations
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Government Services
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Services rendered by the government to the public, typically not involving a fee.
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