composition for small retailers
This query is : Open
24 June 2017
dear sir/madam,
More of the small retail business are have exempted goods like Rice, ayta and other food items, then how they can opt for composition?
24 June 2017
Combined turnover of exempted goods and taxable goods turnover should not exceed 75 lacs. They can opt for the composition scheme.
24 June 2017
but as per gst rule, if dealer have non taxable goods or exempted goods they are not eligible for composition.
24 June 2017
Provide link for such rule.
24 June 2017
No provision is there for non opting of composition scheme in case of exempted goods.
24 June 2017
Terms and Conditions to opt for composition
Composition scheme will be available for all businesses registered under single PAN. A Supplier is required to opt composition scheme for all business registered under his PAN.Supplier shall not be engaged in making interstate outward supply.Supplier shall not be engaged in making any supply of goods which are not leviable to tax under GST Act.The supplier shall not make any supply through e commerce operator.
24 June 2017
The person exercising the option
to pay tax under section 10 shall comply with the following conditions, namely:-
(a) he is neither a casual taxable person nor a non-resident taxable person;
(b) the goods held in stock by him on the appointed day have not been purchased
in the course of inter-State trade or commerce or imported from a place outside India
or received from his branch situated outside the State or from his agent or principal
outside the State, where the option is exercised under sub-rule (1) of rule 3;
(c) the goods held in stock by him have not been purchased from an unregistered
supplier and where purchased, he pays the tax under sub-section (4) of section 9;
(d) he shall pay tax under sub-section (3) or sub-section (4) of section 9 on inward
supply of goods or services or both;
(e) he was not engaged in the manufacture of goods as notified under clause (e) of
sub-section (2) of section 10, during the preceding financial year;
(f) he shall mention the words “composition taxable person, not eligible to collect
tax on supplies” at the top of the bill of supply issued by him; an
to pay tax under section 10 shall comply with the following conditions, namely:-
(a) he is neither a casual taxable person nor a non-resident taxable person;
(b) the goods held in stock by him on the appointed day have not been purchased
in the course of inter-State trade or commerce or imported from a place outside India
or received from his branch situated outside the State or from his agent or principal
outside the State, where the option is exercised under sub-rule (1) of rule 3;
(c) the goods held in stock by him have not been purchased from an unregistered
supplier and where purchased, he pays the tax under sub-section (4) of section 9;
(d) he shall pay tax under sub-section (3) or sub-section (4) of section 9 on inward
supply of goods or services or both;
(e) he was not engaged in the manufacture of goods as notified under clause (e) of
sub-section (2) of section 10, during the preceding financial year;
(f) he shall mention the words “composition taxable person, not eligible to collect
tax on supplies” at the top of the bill of supply issued by him; an
24 June 2017
Its from Final composition rule & there is nothing like that.
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24 June 2017
Even those who are exclusively dealing in exempted goods are not required to get registered.
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