A person doing business (not manufacturing) with pan masala, tobacco, ice cream, aerated water. What are are the tax rates applicable to him if he is a regular dealer?
Is ur answer differ if he is an composite dealer?
If the trader is a Regular Dealer i.e. opted to pay tax U/s 9 of the CGST Act 2017, then following GST Rates would be applicable :
1). PAN MASALA : 28%
2). TOBACCO : 28%
3). ICE CREAM : 18%
4). AERATED WATER : 28%
If the trader has opted for Composition Scheme U/s 10 of the CGST Act 2017, then he is required to pay GST @ 1% on his Taxable Turnover in a State or Union Territory quarterly and will not be eligible to claim ITC...
CAclubindia
