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Exempt Supply & Nil Rated supply
Kindly tell me what is the difference between exempt supply & nil rated supply??
Replies (10)
nil rated are those under which gst rate is zero where as exempt are those which are not covered under gst act
so whether unbranded rice is covered under nil rated supply or exempt supply??
Unbranded rice are nil rated goods.
so whether we can it in the category of exempted supplies as exempted supplies also includes nil rated supplies
You can but separate option for nil rated available.
as per definition under section 2 CGST Act
47] "exempt 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, or under Section 6 of the Integrated Goods and Services Tax Act, and includes non-taxable supply;
So, in my view both are the same,
47] "exempt 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, or under Section 6 of the Integrated Goods and Services Tax Act, and includes non-taxable supply;
So, in my view both are the same,
So whether we need to segregate the exempt supply and night or whether we can show as a single exempt supply
So whether we need to segregate the exempt supply and night or whether we can show as a single exempt supply
So whether we need to segregate the exempt supply and night or whether we can show as a single exempt supply
so whether we need to segregate the exempt supply and nil rated supply or whether we can show it in the exempt supply as a whole
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