CA Inter doubt
What is difference between exempt and non taxable
Asked by Abhay15 Jun 2024420 views
3 answers
Kriti · 15 Jun 2024
Exempt means not under the ambit of gst or income tax and non taxable means government has not taxed a particular good but it can do so it brings the provision
Manvi · 15 Jun 2024
*it cannot
Manvi · 15 Jun 2024
Exempt is that I cannot me made available for being taxable in the future whereas non taxable is that till now it is not made available for tax by the government but in case in future government thinks that is should be made taxable they can do the same
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