24 September 2017
Kindly clear my doubt that %age of tax in Composition Scheme will apply on TOTAL TURNOVER or TAXABLE TURNOVER?????? Thanks in advance.
25 September 2017
i want to ask that suppose a composite dealer sold 10 lakh rs taxable goods and 5lakh ars exempted goods
now he will pay ,say 2%, on what amount.....10lakh or 15 lakh
25 September 2017
tax on 10lacs. But exempted sale of 5 lacs will be added to total turnover. Total turnover should be less than 75 lacs to be in composition.
25 September 2017
there is a bit of confusion in this regard
some CA say tax will be paid on TOTAL T/O, Other say it will be on TAXABLE TURNOVER.
what the act says wrt this?
CAclubindia
