Lawgist16Zero rated supply
(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 to a Special Economic Zone developer or a Special Economic Zone unit.
(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.
(3) A registered person making zero rated supply shall be eligible to claim refund under either of the following options, namely:--
(a) he may supply goods or services or both under bond or Letter of Undertaking, subject to such conditions, safeguards and procedure as may be prescribed, without payment of integrated tax and claim refund of unutilised input tax credit; or
(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,
in accordance with the provisions of section 54 of the Central Goods and Services Tax Act or the rules made thereunder.
Download our fully-offline, High speed android app.- Click here
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Appointment of officers
- 4 Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances
- 5 Levy and collection
- 6 Power to grant exemption from tax
- 7 Inter-State supply
- 8 Intra-State supply
- 9 Supplies in territorial waters
- 10 Place of supply of goods other than supply of goods imported into, or exported from India
- 11 Place of supply of goods imported into, or exported from India
- 12 Place of supply of services where location of supplier and recipient is in India
- 13 Place of supply of services where location of supplier or location of recipient is outside India
- 14 Special provision for payment of tax by a supplier of online information and database access or retrieval services
- 15 Refund of integrated tax paid on supply of goods to tourist leaving India
- 16 Zero rated supply
- 17 Apportionment of tax and settlement of funds
- 17A Transfer of certain amounts
- 18 Transfer of input tax credit
- 19 Tax wrongfully collected and paid to Central Government or State Government
- 20 Application of provisions of Central Goods and Services Tax Act
- 21 Import of services made on or after the appointed day
- 22 Power to make rules
- 23 Power to make regulations
- 24 Laying of rules, regulations and notifications
- 25 Removal of difficulties
