How to differentiate Non-taxable supply with Zero rated supply?
What is Non-taxable supply? How does Zero rated supply work under GST regime? What are the differences between Non-taxable supply and Zero rated supply?
Under GST system, the following information explains about Non-taxable supply and Zero rated supply.
As per GST terms, Non-taxable supply means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act. Zero rated supply means any of the following supplies of goods or services or both; Export of goods or services or both or Supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit.
The details about Non-taxable supply and Zero rated supply with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Non-taxable supply and Zero rated supply, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Non-taxable supply and Zero rated supply separately below. You may kindly read the below links to know more about Zero rated supply and Non-taxable supply.
Term non-taxable supply under GST
Zero rated supply under GST
The above information easily explains about Zero rated supply and Non-taxable supply.
We hope, you have satisfied with the difference between Non-taxable supply and Zero rated supply explained above. Do you have different thought on difference between Zero rated supply and Non-taxable supply?
Share below your thoughts about Non-taxable supply and Zero rated supply
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