Zero rated supply.
Section 16
GST
ZERO RATED SUPPLY
Integrated Goods And Services Tax Act, 2017
CHAPTER VII
\nZERO RATED SUPPLY
\nZero rated supply.
\n16. (1) “zero rated supply” means any of the following supplies of goods or services or both, namely:
\n (a) export of goods or services or both; or
\n (b) supply of goods or services or both 1[for authorised operations] to a Special Economic Zone developer or a Special Economic Zone unit.
\n(2) Subject to the provisions of sub-section (5) of section 17 of the Central Goods and Services Tax Act, credit of input tax may be availed for making zero-rated supplies, notwithstanding that such supply may be an exempt supply.
\n2[(3) A registered person making zero rated supply shall be elig<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n , 1999 (42 of 1999.) for receipt of foreign exchange remittances, in such manner as may be prescribed. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n to such conditions, safeguards and procedure as may be prescribed, without payment of integrated tax and claim refund of unutilised input tax credit; or = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Zero rated supply.Section 16GSTZERO RATED SUPPLY Integrated Goods And Services Tax Act, 2017CHAPTER VII ZERO RATED SUPPLY Zero rated supply. 16. (1) “zero rated supply” means any of the following supplies of goods or services or both, namely: (a) export of goods or services or both; or (b) supply of goods or services or both … Continue reading “Zero rated supply.”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2499","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2499"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2499\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n(4) The Government may, on the recommendation of the Council, and subject to such conditions, safeguards and procedures, by notification, specify
\n (i) a class of persons who may make zero rated supply on payment of integrated tax and claim refund of the tax so paid 3[in accordance with the provisions of section 54 of the Central Goods and Services Tax Act or the rules made thereunder];
\n (ii) a class of goods or services 4[or both, on zero rated supply of which, the supplier may pay integrated tax and claim the refund of tax so paid, in accordance with the provisions of section 54 of the Central Goods and Services Tax Act or the rules ma<\/p>\n
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\n(b) he may supply goods or services or both, subject to such conditions, safeguards and procedure as may be prescribed, on payment of integrated tax and claim refund of such tax paid on goods or services or both supplied,
\nin accordance with the provisions of section 54 of the Central Goods and Services Tax Act or the rules made thereunder."
\n\t3.
\nInserted vide Section 153 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 01-11-2024
\n4.
\nSubstituted vide Section 153 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 01-11-2024 before it was read as,
\n"which may be<\/p>\n
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