Goods and Services Tax (GST) is a comprehensive tax system that has been implemented in India to replace all indirect taxes. Under GST, there are certain goods that are exempted from tax. In this article, we will discuss some of the frequently asked questions about Exemptions under GST – Goods.
There are certain goods that are exempted from GST. These goods include:
No, not all goods attract GST. Only taxable goods, that is, goods that are not exempted from GST attract GST.
Exempted goods do not attract any GST. Hence, the GST rate for exempted goods is zero.
Exemption from GST on goods can be claimed by the following:
The procedure for claiming exemption from GST on goods is as follows:
Exemptions under GST – Goods are an important aspect of the GST system in India. It is mandatory for all businesses to understand the exemptions and comply with the rules to avoid any legal issues.
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