difference between nil rated, exempted, and 0%
anshul gupta (a/c officer) (57 Points)
18 September 2017
pls describe the subject mentioned above.
7 Replies
Akansh Sharma
(19 Points)
Replied 18 September 2017
The products which is nil rated that means its percentage of GST may increase sometime in future or it might not increase
Akansh Sharma
(19 Points)
Replied 18 September 2017
Exempted means means the GST percentage will never be levied on those products, it also attracts nil rated supplies
Akansh Sharma
(19 Points)
Replied 18 September 2017
And zero rated supplies means its only applicable on exports whereas nil rated can be levied in cases other than exporta
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 18 September 2017
Mr. Akansh Sharma.,
Good Explanation. Really appreciate You....
Good Explanation. Really appreciate You....
Chhatra Singh Dugar
(1464 Points)
Replied 18 September 2017
But it is not there that list of items in Schedule I of CGST Act which are exempt for the time being can not be changed. Gov on recommendation of GST council may add or delete any item in the list of exempted goods.
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