Bakery business
Sri Snigdha (Articles Assisstant) (499 Points)
24 November 2020
Can a bakery business can be otped for composition scheme? then what is the rate of tax?
7 Replies
Sai Rocky
(Student)
(24 Points)
Replied 24 November 2020
Ofcourse,they can pay under composition scheme if its annual turnover under prescribed limits.
Vijayprakash P
(1313 Points)
Replied 24 November 2020
Threshold limit:1.5 crores. GST Rate:1% (0.5%IGST, 0.5%SGST)
Sri Snigdha
(Articles Assisstant)
(499 Points)
Replied 24 November 2020
Sir can you provide any notification for that
Pankaj Rawat
(GST Practitioner)
(55052 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
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
Vivek Gupta
(2 Points)
Replied 29 January 2022
Mr.Pankaj ji, Notification not found .pls provide the link of the said notification
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