Nil Rated Goods

Exempted Goods

It means VAT/CST is not payable on goods in specified circumstances

 

For example

Export Sales

It means rate of goods is 0%

In such a case, I.T.C. can be utilized for payment of VAT on taxable goods sold within India.

In this case, Input not available

 

 

  1. Indirect Tax
  2. Vat

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides GST Training in Delhi. Register now.