GOODS EXEMPT UNDER GST

 

GOODS EXEMPT UNDER GST

Under GST act In India, there are certain goods and services that are exempt from the purview of GST. The list of exempt goods under GST includes:

1.There are certain food items like fresh fruits and vegetables, milk, eggs, curd, salt, and unbranded Atta, Maida, Besan, etc.

2.There is certain category of Books, newspapers, and printed materials are exempt from GST.

3.There are some agricultural produce like raw jute, raw cotton, unprocessed green tea leaves etc are exempt from GST.

4.Only Khadi fabric is exempt from GST but other fabric are covered under @ 5% or 12% as the case may be.

5.Handloom and handcrafted goods are also exempt from GST.

6.Judicial papers, stamps and printed or embossed certificates like birth and death certificates are also out of GST purview means no GST on them.

7.There are some other products like Natural honey, fresh flowers, and live animals are also exempt from GST.

8.Most of Religious items like Prasad and Idols made of stone, marble, or wood are also exempt from GST.

9.Product like Human blood, vaccines, and contraceptives are also exempt from GST.

The list of exempt goods under GST is subject to change as per the amendments made by the GST council in its meeting. It is advised to taxpayers that must consult a qualified chartered accountant or tax professional for the latest updates and changes related to GST exemptions in India.

Comments

Post a Comment

Popular posts from this blog

Essential Skills Required to Start a Business

Image
  Essential Skills Required to Start a Business Starting a business is a challenging yet rewarding journey that requires a combination of technical knowledge, strategic thinking, and interpersonal skills. Many aspiring entrepreneurs believe that having a great idea is enough, but in reality, success depends on mastering essential skills that contribute to business growth and sustainability. Below are the critical skills required to start and run a successful business. 1. Business Planning and Strategy A well-defined business plan lays the foundation for a successful startup. Entrepreneurs must develop skills in: Market Research: Understanding industry trends, target audience, and competitors. Goal Setting: Defining clear, measurable objectives. Financial Projections: Estimating costs, revenues, and profitability. Risk Assessment: Identifying potential risks and preparing contingency plans. 2. Financial Management Managing finances effectively is crucial for business survival. E...
Read more

To Start a Business Online, You Need to Consider Following Things

Image
  To Start a Business Online, You Need to Consider Following Things Starting an online business can be a game-changer, offering flexibility, low startup costs, and global reach. With the rise of e-commerce, digital services, and social media marketing, there has never been a better time to launch your online venture. But how do you start, and what do you need? This guide will walk you through the essential steps and requirements for building a successful online business. 1. Find a Profitable Business Idea Before starting, you need a strong business idea that solves a problem or fulfills a demand. Some popular online business models include: ✅ E-commerce Store – Selling physical or digital products. ✅ Dropshipping – Selling products without holding inventory. ✅ Freelancing – Offering skills like writing, graphic design, or web development. ✅ Affiliate Marketing – Earning commissions by promoting products. ✅ Online Courses & Coaching – Teaching skills through digital platfor...
Read more

Essential Qualities of a Perfect Startup Team

Image
  Essential Qualities of a Perfect Startup Team A startup’s success depends heavily on the team behind it. Even the most innovative idea can fail without the right people driving it forward. A perfect startup team consists of a mix of complementary skills, a shared vision, and the ability to execute effectively under pressure. This article explores the key roles, qualities, and dynamics needed to build a winning startup team. Key Roles in a Perfect Startup Team 1. The Visionary (Founder/CEO) The CEO is the driving force behind the startup, setting the vision and strategic direction. They are responsible for: ✅ Defining the mission and long-term goals. ✅ Making critical business decisions. ✅ Raising funds and building partnerships. ✅ Inspiring and leading the team. Key Traits: Strong leadership, decision-making ability, resilience, and networking skills. a guide on business BUY NOW  2. The Technical Expert (CTO/Head of Product) Every tech-driven startup needs a technical leade...
Read more