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Which of the following transactions is exempt from GST?

Practice Questions

Q1
Which of the following transactions is exempt from GST?
  1. Sale of goods
  2. Export of goods
  3. Sale of services
  4. Import of goods

Questions & Step-by-Step Solutions

Which of the following transactions is exempt from GST?
  • Step 1: Understand what GST is. GST stands for Goods and Services Tax, which is a tax applied to most goods and services in a country.
  • Step 2: Learn about zero-rated supplies. Zero-rated means that the tax rate is 0%, so no GST is charged on those transactions.
  • Step 3: Identify the transaction in question. In this case, we are looking at the export of goods.
  • Step 4: Know that exports are considered zero-rated supplies. This means that when goods are exported, no GST is applied.
  • Step 5: Conclude that the export of goods is exempt from GST because it is zero-rated.
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