Mar 102022
 

Non-GST Supply

 

Non-GST Supply means the supply of goods or services or both which is not leviable to tax under GST.

Examples: Electricity, Diesel, Petrol, and Alcohol for human consumption are some examples of non-GST supplies.

 

Nil Rated Supplies

 

Goods or services on which a GST rate of 0 % is applicable are called NIL-rated goods or services.

 

Examples: Jaggery, Salt, Grains, Cereals, etc.

 

Exempt Supplies

 

Exempt Supply means goods and services sold by the companies are free from Goods and Services Tax (GST). Since GST is a tax for the common man, everyday items used by the common man have been included in the list of exempted items.

Examples: Live Fish, Fresh Milk & fruits, unpacked food grains, fresh vegetables, Curd, Bread, etc.

 

Zero Rated Supplies

 

Zero-rated supplies mean supply of goods or services or both to SEZ or SEZ developer or Export of goods or services or both. GST is not applicable in India for exports. Hence, all export supplies of a taxpayer registered under GST would be classified as zero-rated supplies.

Example: Overseas Supplies and supplies to SEZ