Nil Rated or Exempted

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 30 May 2018

Nil Rated...

It is nil rated since it attracts 0% rate of tax

But, as per section 2(47) of CGST act, 2017, exempt supplies includes nil rated supply

So , it is both nil rated and exempt supply and accordingly as per section 17 of CGST act, 2017, no ITC would be available in respect of such supply

Amit Jain

Proprietor

538 Points Posted on 30 May 2018

Whether in GSTR 1 in HSN detail it has to be shown in taxable value column

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 30 May 2018

Originally posted by : Amit Jain
	Whether in GSTR 1 in HSN detail it has to be shown in taxable value column

Will be shown under

8 - Nil rated, exempted and non GST outward supplies

CA Shivam Arora

Chartered Accountant

2414 Points Posted on 30 May 2018

exempt supply and exempted are 2 different terms. Mr. Raja PM is right.

Amit Jain

Proprietor

538 Points Posted on 30 May 2018

In 12-HSN wise summary of outward supplies whether the nil rated goods amount to be included in the taxable value

Pankaj Rawat

GST Practitioner

55067 Points Posted on 31 May 2018

Agree with Mr Raja PM both diff. term, As below

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 and allows no claim on ITC.
Example: Bread, fresh fruits, fresh milk and curd etc.