GST
Nil-rated Supply
Definition
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4 Related Terms
What is Nil-rated Supply?
Nil-rated supplies are goods or services on which GST is levied at 0% rate, such as fresh milk, fresh fruits, bread, and cereals. Unlike exempt supplies, nil-rated supplies allow suppliers to claim input tax credit on inputs used for their production. Nil-rated supplies must be reported in GST returns and contribute to the aggregate turnover calculation.
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