Composition scheme

211 views 4 replies
User Avatar

INTER+CPT
115 Points Joined October 2012
For traders under composition Gst rate @ 1% turnover.

Whether Turnover is inclusive of exempted sales or not?
0 Reply Share Follow
On 24 January 2018 at 22:08 Report
Replies (4)
User Avatar

25 Points Joined August 2017
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
Reply
On 24 January 2018 at 22:14
User Avatar

Unemployed
135 Points Joined December 2009
only persons dealing with taxable goods can opt for composition scheme
Reply
On 25 January 2018 at 09:49
User Avatar

CA
287 Points Joined August 2017

For turnover calculation under composition scheme, exempt sales have to be included.

Know more about relevant faq here : GST Forum India

Reply
On 25 January 2018 at 10:58
User Avatar

Chartered Accountant-Practitioner
140 Points Joined February 2011

You have to pay 1% GST only on taxable turnover from January 01, 2018.

Reply
On 25 January 2018 at 21:32


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading