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.
3 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36355 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.
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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