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Gst classification

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Gayathri (Asst Manage Finance) (49 Points)
Replied 22 January 2018

Hello divakar ..Sec 16 of IGST Act says ITC cannot be denied while exporting nil rated Goods also.And only That. I think it has no connection with what we have discussed earlier .Means Nowhere in Sec 16 says Export of Nil rated goods be considered as Zero Rated.


Divakar (Student CA Final ) (11857 Points)
Replied 22 January 2018

Actually on export there is not tax... Whether u r exporting nil rated items or taxable items.... They r collecting igst and later refunded it.... Export is exclusively called zero rated.... Zero is also a rate while nil rated is exempted item

Divakar (Student CA Final ) (11857 Points)
Replied 22 January 2018

Whether u r exporting nil rated items or taxable items... They r called zero rated supply... In nil rated items export u hv not paid any tax on that

Divakar (Student CA Final ) (11857 Points)
Replied 22 January 2018

Section 16 of IGST act specifically told that zero rated supply means exporting of goods or services


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