List of Goods and Services Exemptions under GST Act
What is Exempt Supply Exempt supply under GST means supplies that do not attract goods and service tax. In these supplies, no GST is charged. Input tax credit paid on these supplies will not be able for utilisation. These are the following three types of supply which are considered exempt supply:- supplies which are chargeable to nil rate tax. supplies which are partially and wholly exempt from the charge of GST by the notifications which amended section 11 of CGST and section 6 IGST. supplies which come under sec 2(78) of the Act. which covers the supplies which are not taxable under the Act like alcoholic liquor for human consumption. Classification of Exemptions Supplier may be exempt — Exemption to the person making supplies-i.e supplier, regardless of the nature of outward supply. (Ex: Services by Securities and Exchange Board of India, Services by Charitable entities. Certain Supplies may b e exempt –Certain supplies due to their nature and type are exempted from GST. All supp