Composition scheme
AJAY PATWARI (ARTICLE) (68 Points)
11 October 2019
will tax be levied on sale of nil rated goods if he is coverd under the scheme?if yes then why?
6 Replies
AJAY PATWARI
(ARTICLE)
(68 Points)
Replied 12 October 2019
But why it will be levied since nil rated are covered under exempt supply?
mehul
(Student CA IPC / IPCC)
(151 Points)
Replied 12 October 2019
Tax is 5% of turnover .Turnover includes exempt supply.
and 5% for restuarant services
manufacturers and traders only 1% tax
and 5% for restuarant services
manufacturers and traders only 1% tax
AJAY PATWARI
(ARTICLE)
(68 Points)
Replied 12 October 2019
But for traders tax is calculated on taxable turnover..
mehul
(Student CA IPC / IPCC)
(151 Points)
Replied 12 October 2019
U never mentioned if it's sale made by trader or manufacturer
AJAY PATWARI
(ARTICLE)
(68 Points)
Replied 12 October 2019
Nothing is mentioned in que. about the person's status
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