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What is the difference between zero rated supply, nil supply and exempt supply?
What is the difference between Zero Rated Supply, Nil Supply and Exempt Supply?
Replies (4)
Zero rated supply is used for export so that credit could have been availed by exporter
and in other two cases credit shall not available
and in other two cases credit shall not available
Shivam Ji ,
pl. explain with definition and exmple
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.
i hope saloni's ans will helpfull for u
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