please explain me zero rated, exempt supplies and nill rated
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I m confused nill rated , exempt supplies and zero rated
Replies (4)
o rated mean no taxable
exempt mean some items are exempted from tax but u fill detail seperatly those goods
exempt mean some items are exempted from tax but u fill detail seperatly those goods
zero rated means export outside India
exempted means gov. notified services which are however taxable but by notification it is declared exempted to some extent.
and nil rated means goods or services which are taxable at NIL RATE
exempted means gov. notified services which are however taxable but by notification it is declared exempted to some extent.
and nil rated means goods or services which are taxable at NIL RATE
Zero Rated Supply- Exports and supplies to SEZ
Nil Rated Supplies- Rate of which is defined as "Nil"
Exempt Supply- Wholly exempt from tax or non taxable under this Act. It includes Nil rated Supplies also.
purchase details kidhar dalanega GSTR 3B main
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