How to differentiate Value of supply with Zero rated supply?
What is Value of supply? How does Zero rated supply work under GST regime? What are the difference betweenValue of supply and Zero rated supply?
Under GST system, the following information explains about Value of supply and Zero rated supply.
The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply.
“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.
As per GST terms, Value of supply means The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply.andZero rated supply means “Zero rated supply” means any of the following supplies of goods or services or both
The details about Value of supply 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 Value of 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 Value of supply and Zero rated supply separately below. You may kindly read the below links to know more about Zero rated supply andValue of supply .
What is value of supply under GST
The above information easily explains about Zero rated supply and Value of supply .
I hope, you have satisfied with the difference between Value of supply and Zero rated supply explained above. Do you have different thought on difference between Zero rated supply and Value of supply?
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