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Purchase of ‘Nil-Rated’ , ‘Exempted’, Items & Goods using TallyPrime

With the introduction of GST, the goods and services have been classified into Nil Rated, Exempted, Zero Rated and Non-GST supplies. The Purchase or Sales of these goods to a local or interstate customer does not attract GST, and can be recorded using a Purchase / Sales voucher.  Let us take a look at what distinguishes each of them with some examples:


Supply

GST Applicable

Type of Supply

Eligibility for ITC

Examples

NIL Rated

0%

Everyday items

No

Grains, Salt, Jaggery, etc.

Exempted

-

Basis essentials

No

Bread, Fresh Fruits, Fresh Milk, Curd etc.

Zero Rated

0%

Overseas supplies, Supply to Special Economic Zones (SEZ) or SEZ Developers

Yes

-

Non- GST

-

Supplies for which GST is not applicable but can attract other taxes

No

Petrol, Alcohol etc.

In case of above Items and Goods , the option Nil Rated / Exempt has to be selected as the Taxability in the GST Details screen of the item or  item group master.

Setting Nil-Rated & Exempted items and Goods :

85

Transactions:
Purchase the following items in Cash from Registered Dealer which are Nil Rated and Exempted

Name of items

Quantity

Rate

Value

Moong Dal

70 Kg.

85

5950

Salt

25 kg.

25

625

Bread

60 Pcs.

22

1320

Fruits

20 Kg.

110

2200

 

 

Total

10,095

Purchase Invoice of above goods are given below :
86

 

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