Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Nil Rated or Exempted

Amit Jain (Proprietor ) (533 Points)

30 May 2018

Whether Non Branded Pulses(HSN Code 0713) are nil rated goods or Exempted goods.

Reply
Follow
Share

9 Replies

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 30 May 2018

Nil Rated...

Upgrade to CAclubindia Pro. Subscribe Now!

Subhkaran Surana (343 Points)
Replied 30 May 2018

It is nil rated since it attracts 0% rate of tax

But, as per section 2(47) of CGST act, 2017, exempt supplies includes nil rated supply

So , it is both nil rated and exempt supply and accordingly as per section 17 of CGST act, 2017, no ITC would be available in respect of such supply

1 Like

Amit Jain (Proprietor ) (533 Points)
Replied 30 May 2018

Whether in GSTR 1 in HSN detail it has to be shown in taxable value column

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 30 May 2018

Originally posted by : Amit Jain
	Whether in GSTR 1 in HSN detail it has to be shown in taxable value column

Will be shown under

8 - Nil rated, exempted and non GST outward supplies

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 30 May 2018

exempt supply and exempted are 2 different terms. Mr. Raja PM is right.

Upgrade to CAclubindia Pro. Subscribe Now!

Amit Jain (Proprietor ) (533 Points)
Replied 30 May 2018

In 12-HSN wise summary of outward supplies whether the nil rated goods amount to be included in the taxable value

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 31 May 2018

Agree with Mr Raja PM both diff. term, As below

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

Exempted It is the supply of goods and services that does not attract GST and allows no claim on ITC.
Example: Bread, fresh fruits, fresh milk and curd etc.