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Composition rates

Harshit Acharya (404 Points)

05 May 2020

What are the 3 effective rates of composition tax payer ? 1, 5 , 1 or 2 , 5 , 1.

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Krishan kant (student) (600 Points)
Replied 05 May 2020

1 5 1 as per rules

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Asha Kanta Sharma (Manager - Finance & Accounts) (36310 Points)
Replied 05 May 2020

Yes it is 1% for Manufacturers and Traders, 5% restaurants, and 1% for deemed composite supply

Shivam RC (Student) (23683 Points)
Replied 05 May 2020

1% ( 0.5% CGST + 0.5% SGST ) for the MANUFACTURER.

1% ( 0.5% CGST + 0.5% SGST ) for the TRADERS on their "Taxable Turnover".

5% ( 2.5% CGST + 2.5% SGST ) for the RESTAURANT Service Providers.

6% ( 3% CGST + 3% SGST ) for the SUPPLIER of SERVICES, having Aggregate Turnover of up to Rs. 50 lakhs.

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