Section 2(23) of IGST Act: Meaning of “Zero-rated Supply”
As per Section 2(23) of the Integrated Goods and Services Tax (IGST) Act, 2017, unless the context otherwise requires, the term “zero-rated supply” has been defined, as under:
Section 2(23) of IGST Act: Definition of “Zero-rated Supply” (CHAPTER I – PRELIMINARY)
“zero-rated supply” shall have the meaning assigned to it in section 16.
The Integrated Goods and Services Tax (IGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Integrated Goods and Services Tax (IGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the IGST Amendment Act, 2018 itself.