Nil Rated Supply Supply of Goods as specified in Schedule – I and Services which is specifically declared as Nil GST rate in its GST rate list. For Example: In Case of Service – (a) Services by an entity registered under section 12AA of the Income-tax Act, 1961 (43 of 1961) by way of charitable activities, (b) Services by the Employees’ State Insurance Corporation to persons governed under the Employees’ State Insurance Act, 1948 (34 of 1948), (c) Services by the Reserve Bank of India, In Case of Goods – (d) Live asses, mules and hinnies, (e) Live bovine animals, (f) Live swine, (g) Curd; Lassi; Butter milk, (h) Potatoes, fresh or chilled. Non – GST Supply Supply of Goods and/or Services on which GST in not leviable as per GST Act is called as Non-GST Supply. For Example: In Case of Service – (a) Electricity Distribution Service, (b) Water Distribution Service, (c) Gas Distribution Service In Case of Goods – (
Due to GST what is Expensive and Cheaper. 1. Expensive:-Mobile service, Banking, service, Luxury items, like hotels , health care, diamonds, etc. 2. Cheaper:- Fruits , Vegetables, eggs, milk, two wheelers, tea, coffee, etc.
ReplyDelete2.5lakhs invoice value for 1 client or consolidated figure for all such supplies to unregistered dealers/clients?
ReplyDelete