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nil rated

keshavamurthy mb (143 Points)

26 August 2018

what you mean by nil rated

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3 Replies

Vatsla Alagh (1545 Points)
Replied 26 August 2018

which are taxable @ 0%

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 26 August 2018

Nil Rated : It is the supply of goods and services that have 0% GST.
Example: Grains, salt, jaggery etc.

Vinod Babu (24191 Points)
Replied 26 August 2018

Goods or services on which GST rate of 0 % is applicable are called NIL rated goods or services. Such goods or services, on which GST rate of 0% is applicable, are listed in schedule 1 under GST rate schedule.

Input tax credit of inputs and / or input services used in providing supply attracting Nil rate is not available i.e. no input tax credit on Nil rated supplies.