Nil Rated Tax Codes (lpind5108m000)

Use session to view and maintain the Nil related tax codes. To report all outward supplies as GST Annexure1, each transaction must be associated with one of the transaction identifiers. This help in reporting as per regulatory requirements. One of such identifiers is 'nil_b2b' & 'nil_b2c'. The supplies that have a declared rate of 0% GST are identified as Nil Rated.

For GST reporting, tax code of each transaction is verified, and if the tax code is the same as specified in this session, the transaction's GSTR identifier must be identified as 'nil_b2b' & 'nil_b2c'.