Section 16 of IGST Act - Zero Rated supply

 

 

Section 16 of Integrated Goods and Services Tax Act 2017 - Zero Rated supply

(1) "zero rated supply" means any of the following supplies of goods or services or both, namely:-
export of goods or services or both; or
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:-

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

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.

 

Integrated Goods and Services Tax Act 2017

Chapter I Preliminary

Section 1 : Short Title, Extent and Commencement

Section 2 : Definitions

 

Chapter II Administration

Section 3 : Appointment of Officers

Section 4 : Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances

 

Chapter III Levy and Collection of Tax

Section 5 : Levy and collection of tax

Section 6 : Powers to grant exemption from tax

 

Chapter IV Determination of nature of supply

Section 7 : Interstate supply

Section 8 : Intra state supply

Section 9 : Supplies in Territorial Waters

 

Chapter V Place of supply of goods or services or both

Section 10 : Place of supply of goods other than supply of goods imported into, or exported from India

Section 11 : Place of supply of goods imported into, or exported from India

Section 12 : Place of supply of services where location of supplier and recipient is in India

Section 13 : Place of supply of services where location of supplier or location of recipient is outside India

Section 14 : Special provision for payment of tax by a supplier of online information and database access or retrieval services

 

Chapter VI Refund of integrated tax paid on supply of goods to tourist leaving India

Section 15 : Refund of integrated tax paid on supply of goods to tourist leaving India

 

Chapter VII Zero Rated Supply

Section 16 : Zero Rated Supply

 

Chapter VIII Apportionment of tax and settlement of funds

Section 17 : Apportionment of tax and settlement of funds

Section 18 : Transfer of input tax credit

Section 19 : Tax wrongfully collected and paid to Central Government or State Government

 

 

 

Chapter IX Miscellaneous

Section 20 : Application of provisions of Central Goods and Services Tax Act

Section 21 : Import of services made on or after the appointed day

Section 22 : Power to make rules

Section 23 : Power to make regulations

Section 24 : Laying of rules regulations and notifications

Section 25 : Removal Difficulties

GST Rates in India

3%, 5%, 18% GST items 26.7.2018

18% GST notification 10.11.2017

0%, 5%, 12% reduced on 10.11.17

IGST Rates reduced on 10.11.2017

0% GST Goods (Original)

3% & 0.25% GST Goods (Original)

5% GST Items (Original List)

12% GST goods (Original List)

18% GST Materials (Original List)

28% GST Rate Goods (Original)

Compensation Cess Rates (Original)

 

GST E-way bill requirement, validity & documents required