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GST Exempted Goods: Know the list of goods exempted under GST. Understand what it means that an item becomes exempt under GST. Also learn differences between Exemption, Nil-rated goods and Non taxable.
GST Exemption: Explore a comprehensive list of goods and services that are exempt from Goods and Services Tax (GST). Get the latest updates on GST exemptions.
In order to determine the liability of tax on any supply of Goods or Services falling under the scope of charging section of GST, it is important to identify whether such supply of Goods or Services are exempt from tax.
Under the Goods and Services Tax (GST) framework, the negative list identifies specific goods and services that are exempt from GST obligations. Defined in Schedule III of the CGST Act, these exclusions clarify which items do not fall within the GST tax regime.
Exempt supply within the framework of the Goods and Services Tax (GST) covers goods and services explicitly listed as exempt under the GST Act. These specific items do not incur any GST liability, meaning suppliers do not collect GST from their customers on such supplies.
Find the latest GST rate list item wise for goods and services in this article. Standard Goods and Services at 12% GST slab and find other slabs here.
Here is a list of some commonly exempted goods under GST: Silk waste, raw silk, raw jute fibre, unprocessed wool, handloom fabrics, cotton for khadi yarn, khadi, charcoal, and firewood. Shovels, spades, agricultural tools, handmade musical instruments, hearing aids, and tools used by physically challenged individuals.