Purchase of ‘Nil-Rated’ , ‘Exempted’, Items & Goods using TallyPrime

With the introduction of GST, the goods and services have been classified into Nil Rated, Exempted, Zero Rated and Non-GST supplies. The Purchase or Sales of these goods to a local or interstate customer does not attract GST, and can be recorded using a Purchase / Sales voucher.  Let us take a look at what distinguishes each of them with some examples:

SupplyGST ApplicableType of SupplyEligibility for ITCExamples
NIL Rated0%Everyday itemsNoGrains, Salt, Jaggery, etc.
ExemptedBasis essentialsNoBread, Fresh Fruits, Fresh Milk, Curd etc.
Zero Rated0%Overseas supplies, Supply to Special Economic Zones (SEZ) or SEZ DevelopersYes
Non- GSTSupplies for which GST is not applicable but can attract other taxesNoPetrol, Alcohol etc.

In case of above Items and Goods , the option Nil Rated / Exempt has to be selected as the Taxability in the GST Details screen of the item or  item group master.

Setting Nil-Rated & Exempted items and Goods :

85

Transactions:

Purchase the following items in Cash from Registered Dealer which are Nil Rated and Exempted

Name of itemsQuantityRateValue
Moong Dal70 Kg.855950
Salt25 kg.25625
Bread60 Pcs.221320
Fruits20 Kg.1102200
  Total10,095

Purchase Invoice of above goods are given below :

86

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