The Institute of Chartered Accountants of India (ICAI) has launched the Fourth Edition (April 2025) of its Handbook on Exempted Supplies under GST. The publication, prepared by the GST & Indirect Taxes Committee, provides updated insights into exemptions under GST law, incorporating amendments till 15th April 2025.
Key Highlights:
- Latest Edition: This is the 4th edition, following updates from 2019, 2020, and 2023.
- Focus: Explains exemptions on goods and services under GST, including government notifications, procedural aspects, and sector-specific reliefs.
- Coverage:
- Background and history of exemptions under erstwhile tax laws.
- Economic impact of exemptions.
- Government powers to issue exemptions.
- Input Tax Credit (ITC) implications.
- Detailed analysis of exemptions for education, health, charities, agriculture, railways, and more.
- Annexures: Lists of exempted goods, services, and activities under Schedule III.
Foreword by ICAI President
ICAI President highlighted that GST has simplified India’s indirect tax regime and boosted competitiveness. He emphasized that the Handbook simplifies complex exemption provisions and will be a valuable reference for professionals and businesses.
Preface Note
The Committee, chaired by and underlined that exemptions are key to balancing revenue needs with social welfare. The updated Handbook provides entry-wise analysis of exemption notifications with clear eligibility criteria.
The Complete handbook can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/08/HB-Exempted-Supplies-under-GST.pdf
