Exempt and Nil rated supply

Exempt Supply: “Exempt supply” means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt from tax under section 11, or under section 6 of the Integrated Goods and Services
Tax Act, and includes non-taxable supply – Section 2(47) of the CGST Act, 2017.

Nil-rated supply: “Nil-rated supply” is not defined in the Act. However, supply of any goods or services or both which attracts nil rate of tax is a nilrated supply.

Priyansh Minocha

Priyansh Minocha is C.E.O and Director at Amonest India Private Limited and Founder at Casolutionsglobal

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