Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
A nil-rated supply is a good or service that is taxable under GST law but currently attracts a 0% tax rate, without the export-linked ITC refund benefits of zero-rated supplies.
Goods or services taxed at 0% under GST, but without the special export refund benefits.
Different from an exempt supply, which is entirely outside GST’s scope; both nil-rated and exempt supplies generally do not allow ITC claims on related purchases.
Certain essential food items are notified as nil-rated supplies, attracting 0% GST but no export-style ITC refund.
Goods or services taxed at 0% under GST, but without the special export refund benefits.
Nil-Rated Supply helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.