GST exemptions can be classified into three main types. Name them.

Absolute Exemptions, Conditional Exemptions, Partial Exemptions.

True or False: All goods and services are subject to GST without exceptions.

False. Certain goods and services are exempt from GST.

Fill in the blank: Supplies that do not incur GST and cannot utilize input tax credits are referred to as ___ supplies under GST.

Exempt

What is the threshold turnover limit for small businesses in India to claim GST exemption on goods?

INR 40 lakhs annually.

What distinguishes nil rated supplies from exempt supplies under GST?

Nil rated supplies are taxed at a 0% GST rate, while exempt supplies incur no GST at all.

True or False: Input tax credits can be claimed on exempt supplies.

False. Input tax credits cannot be claimed on exempt supplies.

What are the reasons for granting GST exemptions on certain goods and services?

Exemptions are granted for policy goals, socio-economic factors, administrative simplicity, and to promote public welfare.

True or False: Non-GST supplies are beyond the GST scope and do not qualify for input tax credit.

True.

What is the exemption limit for service providers in hilly and north-eastern states under GST?

INR 10 lakhs.

Fill in the blank: Goods and services that are essential for public welfare, such as ___ and ___, are often exempt from GST.

Food items, healthcare services

Describe the difference between conditional exemptions and absolute exemptions under GST.

Conditional exemptions require specific terms to be met, while absolute exemptions apply without any conditions.

True or False: Agricultural products and services are usually subject to GST.

False. Many agricultural products and services are exempt from GST.