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:
GST Applicable
Type of Supply
Eligibility for ITC
Examples
NIL Rated
0%
Everyday items
No
Grains, Salt, Jaggery, etc.
Exempted
-
Basis essentials
Bread, Fresh Fruits, Fresh Milk, Curd etc.
Zero Rated
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
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.
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.
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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