Tax exempt goods
This query is : Resolved
27 July 2016
Can anyone explan me the difference between taxfree goods and tax expempted goods
29 July 2016
TAX FREE GOODS MEANS GOODS HAVING TAX RATE 0%.
EXEMPTED GOODS ARE TAXABLE UNDER DIFF. SCHEDULE, BUT BECAUSE OF INCENTIVES, IN HANDS OF SPECIFIED CATAGORY OF DEALERS OR MANUFACTURER EXEMPTION IS GRANTED BY NOTIFICATION.
EXEMPTED GOODS ARE TAXABLE UNDER DIFF. SCHEDULE, BUT BECAUSE OF INCENTIVES, IN HANDS OF SPECIFIED CATAGORY OF DEALERS OR MANUFACTURER EXEMPTION IS GRANTED BY NOTIFICATION.
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