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How to differentiate between nil rated supply and exempt supply?
On searching HSN or SAC, rate of tax is 0%. How to know if it is a nil rated supply or exempt supply?
Replies (4)
On searching HSN or SAC, rate of tax is 0%
1. For Goods, if it pertains to Notification No- 02/2017-Central Tax (Rate) dated 28.06.2017as amended
2. For Services, if it pertains to Notification No- 12/2017-Central Tax (Rate) dated 28.06.2017as amended
If above two conditions (1 or 2 ) are satisfied than it is EXEMPT supply
Otherwise it is NIL rate supply.
You can easily differentiate between nill rated and exempt one. HSN CODE IS SEPERATE.
| Originally posted by : sabyasachi mukherjee | ||
 |
You can easily differentiate between nill rated and exempt one. HSN CODE IS SEPERATE. |  |
Please elaborate
Please go through the link...
You can get some clarity about Nil Rated and Zero Rated...
https://www.indiafilings.com/learn/zero-rated-nil-exempted-and-non-gst-supply/
After that You can understand the difference...
You can get some clarity about Nil Rated and Zero Rated...
https://www.indiafilings.com/learn/zero-rated-nil-exempted-and-non-gst-supply/
After that You can understand the difference...
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