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Nil rated, zero rated & exampted

Sujit Saha (243 Points)

10 October 2017

What it means, nil rated, zero rated & exampted goods. Please explain

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RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 10 October 2017

Dhirajlal Rambhia
05 September 2017

Nil Rated Supply - Nil rated supply is the supply which is chargeable to nil rate of tax or 0% of tax. So goods or service which are said to be covered under nil rated supply are the ones which are chargeable to 0% GST.

Zero Rated Supply - Zero rated supplies are the ones which are executed under Section 16 of the IGST Act. It includes :Export of goods or services or bothSupply of goods or services or both to a SEZ developer or SEZ Unit

Exempt Supplies - Exempt supplies are the supplies which are wholly exempt from tax under GST Act. Exempt supplies also include Nil rated supplies.

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