Difference of goods
Sunil Agrawal (225 Points)
29 March 2019
Sir, what is the difference of nil rated & exempted goods where we find the list of same
1 Replies
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 29 March 2019
Nil rated goods are those goods on which rate of GST itself is 0%
For e.g. Fruits, Foodgrains, Bindi, etc.
Exempted goods are generally those goods on which there is different rate of GST applicable but the same has been exempted by Govt for GST.
For e.g. Export of goods are exempt from GST.
Here even if your GST rate is 28 % on product, your sale shall be exempt as it is an export.
Hope it clarifies your query
For e.g. Fruits, Foodgrains, Bindi, etc.
Exempted goods are generally those goods on which there is different rate of GST applicable but the same has been exempted by Govt for GST.
For e.g. Export of goods are exempt from GST.
Here even if your GST rate is 28 % on product, your sale shall be exempt as it is an export.
Hope it clarifies your query
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