10 July 2017
In view of the clarification that used car dealers have to pay gst on marginal turnover, Whether they can go for composition if their marginal turnover is less than 75 lakhs (
sales less purchases)
10 July 2017
No No...
can't calculatd marginal based T/O. The aggregated turn over is overall outward supplies like taxable sales, zero/excempted, Services and etc.,
SI, In your view 75lakhs is your marginal T/O if your actual T/O is above 75lakhs. So, it is can't optout composition scheme.
10 July 2017
the value of supply shall be difference between the sale price and purchase price so they are being adviced to go for composition and pay 1 % on their net turnover .
suggest your views
10 July 2017
Yes I agreed. But, It's up to 75lakhs only. Above 75lakhs and one also you get notifications from GSTN for msg, mail and etc way. Your yearly turn over is Upto 75lakhs you can go to composition is better. But. you can decide it for assuming plus or minus in your view that is best.
10 July 2017
What they are saying is net sales at 75 lakhs that means( sales - Purchase ) shall be value of supply so 75 lakhs ( say 5 cr sales - 4.25 cr purchase )
CAclubindia
