The Institute of Chartered Accountants of India (ICAI) has released the fourth edition of its Handbook on Exempted Supplies under GST, updated with amendments up to April 15, 2025. GST & Indirect Taxes Committee prepares the publication that furnishes support on the exemptions that are present under the GST regime, which is a significant area for businesses, tax professionals, and policymakers.
The handbook facilitates the legal provisions of the exemptions that cover both goods and services exempt from GST. It proposes an analysis of the exemption notifications, eligibility criteria, conditions, and procedural aspects. The resources, which present exemptions available to sectors such as healthcare, education, agriculture, charitable trusts, transportation, and finance, are specified for reference for professionals navigating intricate GST provisions.
Related: ICAI Unveils the GST Invoicing Handbook in July 2025 Edition
As per the ICAI President, CA. Charanjot Singh Nanda, the new publication has the motive to strengthen the knowledge base of members and stakeholders, which allows them to discharge their professional responsibilities. The significance of clarity in interpreting exemption notifications has been outlined by the committee, specifying that wrong application can result in tax obligations and refusal of Input tax credit.
In the handbook, it cites the economic impact of exemptions, the difference between absolute and conditional exemptions, implications on pricing, and issues from retrospective changes. Towards the exemption of the tax system in India, the ICAI publication gives insights for businesses and tax practitioners with the upcoming policy changes by the GST Council.
You can download the new version, Fourth Edition, April 2025, of the Handbook on exempted supplies under GST: Click here
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