what is diffrence between EXEMPT TAX,
ZERO RATED TAX,
NOT TAXABLE,
TAXABLE???
Nil Rate
This type of supply attracts a GST of 0%. Input tax credit cannot be claimed on such supplies. Some items which are nil rated include grains, salt, jaggery, etc.
Exempted
This supply includes items which are used for everyday purposes. Since they are basic essentials, they do not attract any GST at all. You will not be able to claim any ITC on such supplies. Some examples are, bread, fresh fruits, milk, curd, etc.
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