Exempt Supply Vs Nil Rate Supply

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Sir, what is the difference between Nil Rated Supply and Exempt Supply? By definition u/s 2(47) Exempted Supply includes Nil Rated Supply but what is the exact significance of these two terms under GST. - Reply By KASTURI SETHI - The Reply = Nil rated is by virtue of tariff Act and exempted is by virtue of notification or Order of Govt. Any goods or service which is taxable by tariff Act m .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ay be exempted by notification. Now if Exempt supply includes non-taxable supply I would call it defective definition. Which is already non-taxable supply, what is necessity of defining it exempted. 'Exempted' and 'non-taxable' cannot be correlated simultaneously. - Reply By Ganeshan Kalyani - The Reply = I would say that in GST the term exempted prevails as the items are ex .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... empted by way of notification and there is no tariff as such. There is no tariff like Central Excise tariff. - Reply By YAGAY andSUN - The Reply = In addition to above reply, Regarding Exempted Supply, the Exemption can be conditional or absolute but with Nil Rated supply, no condition or exemption is associated. While supplying goods under Exemption or at Nil rate, Bill of Supply should be use .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d. - Reply By KASTURI SETHI - The Reply = For the purpose of GST, Customs Tariff Act, 1975 is followed. This is with reference to the reply Sh.Ganeshan Kalyani, Ji. I also agree with the reply dated 24.5.20 of M/s.Yagay and Sun,Sir. - Exempt Supply Vs Nil Rate Supply - Query Started By: - Krishna Murthy Dated:- 1-6-2019 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X