Indirect Tax Consultant Interview Questions and Answers

Explain the difference between exempt, non-taxable, and zero-rated supply and the conditions for export of service.

• Exempt supply is not subject to tax and the supplier cannot claim input tax credit.

• Non-taxable supply is not subject to tax but the supplier can claim input tax credit.

• Zero-rated supply is taxable but at a rate of 0% and the supplier can claim input tax credit.

• Export of service is zero-rated if the recipient is located outside the country and the payment is recei...read more