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Difference between nil rate and 0%
Please help what is the difference between nil rate and 0% in gst or weather they are same
Replies (3)
1 Zero Rated Supplies include:
- supplies made to any country other than India; and
- supplies made to customers located in Special Economic Zones (SEZ) or SEZ Developers
2 NIL RATED It is the supply of goods and services that have 0% GST.
Example: Grains, salt, jaggery etc.
if product are not cover under GST then use Nil and when product covered under GST but rate are 0 then you have to consider for 0 rate. ie. 5am switch has 18 GST but we are export switch and we have LUT so we will make bill with 0 rate, not nil rate.
Vinod ji
product not cover under GST is Non Gst
Nil rate goods have 0℅ GST
Zero Rated is Export
product not cover under GST is Non Gst
Nil rate goods have 0℅ GST
Zero Rated is Export
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