What is the difference between zero rates and nill rate under gst law?

Question

Accepted Answer

Zero rates and nill rates are different under GST law.

Zero rated supplies are taxable but the rate of tax is 0%, while nil rated supplies are not taxable at all.
Zero rated supplies are eligible for input tax credit, while nil rated supplies are not.
Examples of zero rated supplies include exports and supplies to SEZs, while examples of nil rated supplies include education and healthcare services.
Zero rated supplies require a GST registration, while nil rated supplies do not.

Accepted Answer

Exports of goods or services are considered zero-rated supplies, which means they are exempt from GST. The main objective behind zero-rating supplies is to promote exports and help Indian businesses compete in the global market

Accepted Answer

Exports of goods or services are considered zero-rated supplies, which means they are exempt from GST. The main objective behind zero-rating supplies is to promote exports and help Indian businesses compete in the global market

What is the difference between zero rates and nill rate under gst law?

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