Exempt supply

Exempt supply,

Definition of Exempt supply:

  1. Types of property, goods, or services exempt from the Value-Added Tax. In nations that use the Value-Added Tax as a means of generating government revenue, many types of goods and services are subject to it, but a good or service classed as an exempt supply is not, in order to avoid reducing the demand for that good or service.

Meaning of Exempt supply & Exempt supply Definition