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query-nil rate and exempted
difference between nil rated and exempted sale?
Replies (2)
according to GST law
which goods attract 0% of tax is NIl rated
and which goods exclusively exempted under gst regime is exempted (specified goods and services)
nil rated is different from Zero rated supply
zero rated supply means "export without payment of GST"
which goods attract 0% of tax is NIl rated
and which goods exclusively exempted under gst regime is exempted (specified goods and services)
nil rated is different from Zero rated supply
zero rated supply means "export without payment of GST"
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.
Exempted It is the supply of goods and services that does not attract GST and allows no claim on ITC.
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