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Bakery business

Sri Snigdha (Articles Assisstant) (498 Points)

24 November 2020

Can a bakery business can be otped for composition scheme? then what is the rate of tax?

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Sai Rocky (Student) (24 Points)
Replied 24 November 2020

Ofcourse,they can pay under composition scheme if its annual turnover under prescribed limits.

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Vijayprakash P (1313 Points)
Replied 24 November 2020

Threshold limit:1.5 crores. GST Rate:1% (0.5%IGST, 0.5%SGST)

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Sridharr m.p.s (23 Points)
Replied 24 November 2020

Bakery sales taxable at 5% not 1%

Sri Snigdha (Articles Assisstant) (498 Points)
Replied 24 November 2020

Sir can you provide any notification for that

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 27 November 2020

Yes ....... the bakery business can opt for composition scheme & Charge 1% GST on turnover .

5% GST is applicable in case of Restaurant & if bakery seller is providing seating arrangement & serving the customers under his business premises will be cover under the restaurant business & liable to charge 5% GST FC (without ITC) in that case.
(Notification 46/2017 CT ,rate

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