Is exempted income is different from non taxable income under GST? And if then what is the effect on calculation of aggregate turnover

Question

Purushotham · Answer

Thanks for the information

Dronzer · Answer

no GST is charged on exempt supplies, the supplier is not entitled to claim input tax credit on inputs used to make exempt supplies. Unlike exempt supplies, for non-taxable supplies, the supplier may claim input tax credit on inputs used to make non-taxable supplies.

Dronzer · Answer

for aggregate t/o computation exempt supply is considered. for clarification non taxable supply is also considered for the computation as the definition of Exempt supply includes non taxable supply. You can say that there is a contradiction. But for the computation part exempt supply includes non taxable supply.

Dronzer · Answer

Correction of the first reply: exempted and not collected

Purushotham · Answer

Effect on calculation of aggregate turnover

Dronzer · Answer

Exempt income ❌ Exempt supply ✅

Dronzer · Answer

Yes! Exempt supply are the supply on which gst get levy but it is exempted and collected. Whereas non taxable supply is just a supply on which Gst is not levied.

Is exempted income is different from non taxable income under GST? And if then what is the effect on calculation of aggregate turnover

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