PPT: Exemptions from GST - 2 | Taxation for CA Intermediate PDF Download

 Page 1


Exemptions under GST Law –
Part II
Page 2


Exemptions under GST Law –
Part II
Legends Used in the Presentation
BSBD Basic Saving Bank Deposit
CG Central Government
ESI Employees’ State Insurance
GA Governmental Authority
GE Government Entity
GTA Goods Transport Agency
IRDAI Insurance Regulatory and Development Authority of India
LA Local Authority
NPS National Pension System
NSTEDB National Science and Technology Entrepreneurship Development Board
PRDA Pension Fund Regulatory  and Development Authority
RCS Regional Connectivity Scheme
SEBI Securities and Exchange Board of India Act, 1992
SEZ Special Economic Zone
SG State Government
UT Union Territory
Page 3


Exemptions under GST Law –
Part II
Legends Used in the Presentation
BSBD Basic Saving Bank Deposit
CG Central Government
ESI Employees’ State Insurance
GA Governmental Authority
GE Government Entity
GTA Goods Transport Agency
IRDAI Insurance Regulatory and Development Authority of India
LA Local Authority
NPS National Pension System
NSTEDB National Science and Technology Entrepreneurship Development Board
PRDA Pension Fund Regulatory  and Development Authority
RCS Regional Connectivity Scheme
SEBI Securities and Exchange Board of India Act, 1992
SEZ Special Economic Zone
SG State Government
UT Union Territory
Presentation Schema
Introduction
Services 
Provided by 
Government
Construction 
Services
Passenger 
Transportation 
Services
Goods 
Transportation 
Services
Goods Transport 
Agency Services
Banking and 
Financial 
Services
Services of Life 
Insurance 
Business
General 
Insurance 
Business 
Services
Services 
provided by 
Specified Bodies
Services 
provided to 
Government
Leasing Services Legal Services
Sponsorship of 
Sports Events
Skill 
Development 
Services
Performance by 
an Artist
Right to 
Admission to 
Various Events
Services by an 
Unincorporated 
Body or a Non-
profit entity
Other 
Exemptions
Page 4


Exemptions under GST Law –
Part II
Legends Used in the Presentation
BSBD Basic Saving Bank Deposit
CG Central Government
ESI Employees’ State Insurance
GA Governmental Authority
GE Government Entity
GTA Goods Transport Agency
IRDAI Insurance Regulatory and Development Authority of India
LA Local Authority
NPS National Pension System
NSTEDB National Science and Technology Entrepreneurship Development Board
PRDA Pension Fund Regulatory  and Development Authority
RCS Regional Connectivity Scheme
SEBI Securities and Exchange Board of India Act, 1992
SEZ Special Economic Zone
SG State Government
UT Union Territory
Presentation Schema
Introduction
Services 
Provided by 
Government
Construction 
Services
Passenger 
Transportation 
Services
Goods 
Transportation 
Services
Goods Transport 
Agency Services
Banking and 
Financial 
Services
Services of Life 
Insurance 
Business
General 
Insurance 
Business 
Services
Services 
provided by 
Specified Bodies
Services 
provided to 
Government
Leasing Services Legal Services
Sponsorship of 
Sports Events
Skill 
Development 
Services
Performance by 
an Artist
Right to 
Admission to 
Various Events
Services by an 
Unincorporated 
Body or a Non-
profit entity
Other 
Exemptions
Introduction
When a supply of goods and/or services falls within the purview of charging section of
GST law, such supply is chargeable to GST.
However, for determining the liability to pay the tax, one needs to further check
whether such supply of goods and/or services are exempt from tax
Under GST, essential goods/services have been exempted
Therefore, it is essential to understand the provisions for exemptions from GST
Page 5


Exemptions under GST Law –
Part II
Legends Used in the Presentation
BSBD Basic Saving Bank Deposit
CG Central Government
ESI Employees’ State Insurance
GA Governmental Authority
GE Government Entity
GTA Goods Transport Agency
IRDAI Insurance Regulatory and Development Authority of India
LA Local Authority
NPS National Pension System
NSTEDB National Science and Technology Entrepreneurship Development Board
PRDA Pension Fund Regulatory  and Development Authority
RCS Regional Connectivity Scheme
SEBI Securities and Exchange Board of India Act, 1992
SEZ Special Economic Zone
SG State Government
UT Union Territory
Presentation Schema
Introduction
Services 
Provided by 
Government
Construction 
Services
Passenger 
Transportation 
Services
Goods 
Transportation 
Services
Goods Transport 
Agency Services
Banking and 
Financial 
Services
Services of Life 
Insurance 
Business
General 
Insurance 
Business 
Services
Services 
provided by 
Specified Bodies
Services 
provided to 
Government
Leasing Services Legal Services
Sponsorship of 
Sports Events
Skill 
Development 
Services
Performance by 
an Artist
Right to 
Admission to 
Various Events
Services by an 
Unincorporated 
Body or a Non-
profit entity
Other 
Exemptions
Introduction
When a supply of goods and/or services falls within the purview of charging section of
GST law, such supply is chargeable to GST.
However, for determining the liability to pay the tax, one needs to further check
whether such supply of goods and/or services are exempt from tax
Under GST, essential goods/services have been exempted
Therefore, it is essential to understand the provisions for exemptions from GST
Services Exempt from GST
Notification No. 12/2017 Central Tax (Rate) dated 28.06.2017
&
Notification No. 12/2017 Integrated Tax (Rate) dated 28.06.2017
• Entry Numbers mentioned in this presentation refer to entry
numbers in the first-mentioned notification
• Various entries are clubbed together based on their nature
Part II
Goods Exempt from GST and Portion of Services exempt from GST 
were discussed in the last webinar