There is a confusion among taxpayers as to what is the difference between Nil Rated, Zero Rated, and Exempt supplies?
Answer - The difference between the three terms can be drawn in the following manner:
- 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 - There is a common understanding that supplies liable to 0% tax rate are the zero rated supplies which is wrong. In GST, Zero rated supplies are the ones which are executed under Section 16 of the IGST Act. It includes :
- Export of goods or services or both
- Supply 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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below 20 laksh register person how file GST return can be explain pls
Same procedure for all the registered person. Refer “GST for Janta – GSTR3B” booklet by taxgrid for step by step approach on how to file return
HSN code 12110000 – “Plants and parts of plants (including seeds and fruits), of a kind used primarily in perfumery, in pharmacy or for insecticidal,fungicidal or similar
purpose, fresh or dried, whether or not cut,crushed or powdered”
Whether these are Nil rated products or exempted products??
How to claim tax benefit of Sales returns received Post GST for Sales of Pre GST regime.
sales return from registered or unregistered?
We are supplier to SEZ Location Customer, when we are supply the material . Customers as given SEZ Exempted certificate.
01. We need to bill without taxes or how it is?
02. Without Tax Billing means we need to submit any FORM in SEZ Location for in word materials.
Supply to SEZ amounts to interstate supply liable to IGST and will be treated as zero rated supply. Invoice is required to be issued.
i am registered in Maharashtra gst total yearly tron over aprox 11cr trading in maida atta under code 1101 Purchases from maharashtra and other state pl my ques. 1 transport charge paid me applicable RCM or not
sir
Nil rated or exempted supplies means – Profit and loss a/c expenditure or sales. if both what are the non gst supplies
please explain the expenditure list
I am a trader in live birds (Chicken). it is wholely exempt from GST Tax. should i register for GST. In what circumstances will i be compelled to register?
If your supplies are wholly exempt then no need to take registration.
Grains nil rated supply or exempted supply how to file gstr 2
Sir,
We are material supplier to 100% E.O.U unit under taxable material.
party says “Deemed exporter don’t put tax in invoice, we are given declaration with Green Card Copy”.
is it okay, if yes means how fill in GST-1.
kidnly reply sir
In case of deemed exporter export without payment option is not available and thus gst has to be paid and will be shown in invoice. So you need to claim a refund.
In any GST Law, any supply of goods or services or both is either a supply leviable to tax or a supply not leviable to tax. Supplies leviable to tax are those supplies on which the charging section of the Act (Tax levy provision) provides for levy of tax. Charging section also provides the base or measure of tax. So far as it is related to rate of tax, the law may either provide rates of tax itself or it may, with necessary guidelines, delegate powers to the Government for notifying rates of tax. Tax cannot be levied on supplies which are not leviable to tax. My quests are:
1. Whether Zero-rated supply is leviable to tax under the IGST Act? If answer is Yes, then what is the rate of tax?
2. If in respect of zero-rated supplies, rate of tax is zero, then what is the difference in between nil rate of tax and zero rate of tax?
With thanks and regards,
This question has been answered at forums. Please follow the link https://taxgrid.in/forums/topic/difference-nil-rated-zero-rated-supplies/