Check sibling questions

 

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

 

 

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi and Kerala.