banner_ad

GST Nil & Exempted

402 views 3 replies
User Avatar

Accountant
76 Points Posted on 09 November 2019

Dear Sir/Mam
What is Difference between the Nil Rate & Exempted Rate Of GST..
Please Clarify..

Reply Share Follow
On 09 November 2019 at 12:19 Report
Replies (3)
User Avatar

947 Points Posted on 09 November 2019
The basic difference between nil rated and exempt supply is that the tariff is higher than 0% in case of exempt supply. But there is no tax payable due to exemption notification. Whereas in case of NIL rated supply, the tariff is at NIL rate so there is no tax without the exemption notification.
2 Reply
On 09 November 2019 at 21:07
User Avatar

GST Practitioner
55067 Points Posted on 09 November 2019
In simple Words:

Nil Rated : It is the supply of goods and services that have 0% GST.
Example: Grains, salt, jaggery etc.

Exempted :It is the supply of goods and services that does not attract GST (Exempted by Notification)
301 Reply
On 09 November 2019 at 22:04
User Avatar

7059 Points Posted on 09 November 2019
NIL-Rated Supplies that have a declared rate 0% GST for example Salt, Grain, Jaggery etc. Exempt Supplies are taxable but dot attract GST and for which ITC can't be claimed.
33 Reply
On 09 November 2019 at 22:12


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details