How to differentiate Supply under GST with Zero rated supply?
What is Supply under GST? How does Zero rate supply work under GST regime? What are the difference between Supply under GST and Zero rated supply?
Under GST system, the following information explains about Supply under GST and Zero rated supply.
The taxable event in GST is supply of goods or services or both. Various taxable events like manufacture, sale, rendering of service, purchase, entry into a territory of state etc. have been done away with in favor of just one event i.e. supply. The constitution defines “Goods and Services Tax” as any tax on supply of goods, or services or both, except for taxes on the supply of the alcoholic liquor for human consumption.
“Zero rated supply” means any of the following supplies of goods or services or both, namely:––
- 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 Supply under GST and Zero rated supply with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Supply under GST and Zero rated supply, so as to enable you to have a clear idea on these shipping terms.
For your immediate reference, we give below web links on Supply under GST and Zero rated supply separately below. You may kindly read the below links to know more about Zero rated supply and Supply under GST.
Term Principle of supply under GST
The above information easily explains about Zero rated supply and Supply under GST.
I hope, you have satisfied with the difference between Supply under GST and Zero rated supply explained above. Do you have different thought on difference between Zero rated supply and Supply under GST?
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