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:
Sold the following items in Cash which are Nil Rated and Exempted
| Name of items |
Quantity |
Rate |
Value |
|
Moong Dal |
50 Kg. |
100 |
5000 |
(Nil Rated) |
Salt |
20 kg. |
30 |
600 |
(Nil Rated) |
Bread |
48 Pcs. |
25 |
1200 |
(Exempted) |
Fruits |
10 Kg. |
125 |
1250 |
(Exempted) |
|
|
Total |
8050 |
|
Sale Invoice of above goods are given below :
 135
GST Details of the above invoice :
When you Press Ctrl + I (More Details) and select GST – Tax Analysis from Additional Details and Press Alt + F1 for Details…you will see the GST Analysis as below by default.
 136 |
