Query
Dipesh Melwala (26 Points)
30 July 2017
Difference between Nil Rated supplies, Exempted (other than nil rated/non GST supply) and Non-GST supplies
1 Replies
Ahmed Ali
(388 Points)
Replied 30 July 2017
Very good question. Let me explain this. Exempt Supply is a broad term. It includes three type of supplies:
a) Nil-rated/ Zero-rated supply - A supply which is taxable under GST law and is having 0% rate of tax.
b) Goods/Services exempted by notification by Government.
c) Non-GST supplies or supplies which are not at all taxable under GST law. For example - Salary etc...
So, wherever you are reading the word "Exempt Supply", it refers to all of the above 3 type of supplies.
a) Nil-rated/ Zero-rated supply - A supply which is taxable under GST law and is having 0% rate of tax.
b) Goods/Services exempted by notification by Government.
c) Non-GST supplies or supplies which are not at all taxable under GST law. For example - Salary etc...
So, wherever you are reading the word "Exempt Supply", it refers to all of the above 3 type of supplies.
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