Pankaj Rawat
(GST Practitioner)
(55025 Points)
Replied 14 July 2019
Saket Mishra
(in 12th class)
(111 Points)
Replied 15 July 2019
Sheetal Devaki
(68 Points)
Replied 15 July 2019
Akshay Jain
(Tax Consultant)
(1024 Points)
Replied 15 July 2019
CHIRAG AGRAWAL
(9 Points)
Replied 15 July 2019
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 15 July 2019
Nil Rated
Goods or services on which GST rate of 0 % is applicable are called NIL rated goods or services. Such goods or services, on which GST rate of 0% is applicable, are listed in schedule 1 under GST rate schedule. Example of Nil rated supplies are salt, jaggery, cereals etc.
Input tax credit of inputs and / or input services used in providing supply attracting Nil rate is not available i.e. no input tax credit on Nil rated supplies.
Exempted supply means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt from tax under section 11 of CGST Act or under section 6 of the IGST Act, and includes non taxable supply. Following points are to be noted for exempted supply:
Uttam
(employee)
(814 Points)
Replied 07 September 2019
Akshay Jain
(Tax Consultant)
(1024 Points)
Replied 07 September 2019