Meaning of No Supply, Non GST Supply, Non Taxable Supply, NIL Rated Supply, Exempt Supply etc.

 Meaning of No Supply, Non GST Supply, Non Taxable Supply, NIL Rated Supply, Exempt Supply etc. 

Definition may be comparatively easy to understand when it is being defined in the GST Act. It will most critical to understand the term when not defined in the Act and then used in Form/Returns with an Expectation by Govt to report the correct data and submit correct Returns by the registered person. 

Based on my understanding, I would like to explain the meaning of each term with the help of definition/instruction etc. given in the Act. I do agree that there may be different view as well.

Taxable vs. Non Taxable Supply 

Exempt Supply vs Nil Rated

Regard

CA Arun Chhajer