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different between nil rated supplies and zero rated supplies
difference between nil rated supplies and zero rated supplies
Replies (3)
nil rated supplies are those which are taxable but tax rate not prescribed as of now which may become taxable from any future date (0% rate).
However zero rated supplies specifically includes only 2 supplies : exports and supplies to SEZ.
However zero rated supplies specifically includes only 2 supplies : exports and supplies to SEZ.
same as exempted supply and nil supply
Zero rated supply u can avail itc but nil rated u can't availed itc
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