For traders under composition Gst rate @ 1% turnover.
Whether Turnover is inclusive of exempted sales or not?
4 Replies
Raja sekhar Reddy
(25 Points)
Replied 24 January 2018
actually a person registered under composition scheme shall not be eligible to make exempted sale, so exempted sale shall not be included in total turnover
sharat
(Unemployed)
(135 Points)
Replied 25 January 2018
only persons dealing with taxable goods can opt for composition scheme
ishika
(CA)
(287 Points)
Replied 25 January 2018
For turnover calculation under composition scheme, exempt sales have to be included.
Know more about relevant faq here : GST Forum India
Jethmal Singhvi
(Chartered Accountant-Practitioner)
(140 Points)
Replied 25 January 2018
You have to pay 1% GST only on taxable turnover from January 01, 2018.
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