IN COMPOSITION SCHEME, A DEALER DECLARED 30 LAKHS AS TAXABLE
REMAINING 20 LAKHS AS EXEMPTED BUT NOT SHOWING IN GST RETURN, CAN WE CLAIM THIS EXEMPTED SALES ALSO FOR TURNOVER?
11 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 19 May 2019
Yes , As per the definition of Aggregate turnover in term of Section 2(6) of CGST Act , it includes both exempted & taxable turnover.
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1329 Points)
Replied 19 May 2019
BUT NOT SHOWS IN JAN-MARCH RETURN, CAN WE DECLARE IN ANNUAL RETURN SIR?
abhishek bardia
(partner)
(308 Points)
Replied 19 May 2019
you will have to pay tax on the exempted sale as well
pritesh
(CA Final student)
(7101 Points)
Replied 19 May 2019
Not required to pay tax on excempted goods
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 20 May 2019
Yes agree with mr abhishek
Only in case You are not a manufacturer then no GST is applicable on exempted supply .
Refer Notification 1/2018 CT , read with principal Notification 8/2017 CT
Only in case You are not a manufacturer then no GST is applicable on exempted supply .
Refer Notification 1/2018 CT , read with principal Notification 8/2017 CT
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1329 Points)
Replied 20 May 2019
actually he is a perfumery stick manufacturer. , he doing daddy .rice and perfumery stick sales by van in local.
abhishek bardia
(partner)
(308 Points)
Replied 20 May 2019
the amount which we pay in composition scheme is not tax gentlemen its just an amount in lieu of tax. merely reading the section 10 we can interpret that a fixed amount is payable on turnover in state. and if you the see definition of turnover in state it includes exempt supply as well.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 20 May 2019
Dear Muralidoss
As per Notification 1 /2018 , Manufacturer has to pay GST on Exempted Turnover .
As per Notification 1 /2018 , Manufacturer has to pay GST on Exempted Turnover .
abhishek bardia
(partner)
(308 Points)
Replied 20 May 2019
yes pankaj ji is right. the definition of turnover for traders have been amended vide notification 1/2018. but for manufacturers the definition remains same. which means manufacturers will pay composition tax even on exempted goods
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
