What is the difference between zero rated supply, nil supply and exempt supply?

Anand Dixit (Accountant) (35 Points)

20 June 2017

What is the difference between Zero Rated Supply, Nil Supply and Exempt Supply?

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shivam agrawal (article) (66 Points)
Replied 20 June 2017

Zero rated supply is used for export so that credit could have been availed by exporter
and in other two cases credit shall not available

Anand Dixit (Accountant) (35 Points)
Replied 20 June 2017

Shivam Ji ,

pl. explain with definition and exmple

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 20 June 2017

Zero Rated Supply- Exports and supplies to SEZ

Nil Rated Supplies- Rate of which is defined as "Nil"

Exempt Supply- Wholly exempt from tax or non taxable under this Act. It includes Nil rated Supplies also.

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shivam agrawal (article) (66 Points)
Replied 20 June 2017

i hope saloni's ans will helpfull for u

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