I have read that
there are 6 Rates applicable for goods
which does not include nil rate, I mean 0%
then what is nil rated supply
4 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 13 November 2021
Yes zero is also a rate
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 13 November 2021
Nil rated supply means Tax rates are kept NIL in the interest of public ,of certain goods or services by way notification by the GOVT , on the recommendation of the GST Council .
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 13 November 2021
Zero rate is use for Export of Goods or service .
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 13 November 2021
Yes it is applicable in case of exports
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