Difference between Zero Rated, Nil Rated, Non-GST and exempt supplies
Look, if you’ve ever stared at a GSTR-1 form at 11 PM wondering whether to classify that export invoice as “zero-rated” or “exempt,” you’re not alone. These four terms—zero-rated, nil-rated, exempt, and non-GST supplies—sound like variations of the same thing, but misclassifying them triggers notices, blocks ITC refunds, and creates compliance nightmares that’ll haunt…
