if i m a composition dealer and purchase goods from another composition dealer ,what will be tax liability for me
19 Replies
upasana gupta
(Finance Professional)
(3931 Points)
Replied 23 June 2017
A registered taxpayer, who is registered under the Composite Scheme will pay tax at a rate not more than 1% for manufacturer, 2.5% for restaurant sector and 0.5% for other suppliers on turnover.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 23 June 2017
The amount at which you purchase will be your cost.
Devansh Jain
(...)
(1269 Points)
Replied 23 June 2017
No tax liability on you
A composition dealer (your seller) cannot recover the tax amount from his customer (you)
Likewise..when you sale further, even u will not be able to recover 1%/2% liability from your customers..
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 23 June 2017
No tax liability if other dealer is registered.
Lalit Nagpal
(Assistant Manager)
(541 Points)
Replied 23 June 2017
If you being an composite dealer purchases goods from another composite dealer, seller( composite dealer) will pay GST. He cant recover this GST part from you by showing seprately in invoice and at your end No GST
DINESH DUBEY
(ADVOCATE)
(27 Points)
Replied 24 June 2017
Can a registered non composition dealer make purchase from a compostion dealer?
If yes then in which retun form it has to be shown while filling monthly return..
answer it from view point of registerd non composition dealer?
HIREN
(Chartered Accountant)
(320 Points)
Replied 24 June 2017
Registered non composition dealer can make purchase from composition dealer but cannot avail ITC
ichchha
(Student CA Final )
(44 Points)
Replied 24 June 2017
Suppose a company has branches in different states then whether the composition scheme will apply on aggregate turnover on the company including all its branches or exemption limit of 75 lakh is for all the branches and the company?
ichchha
(Student CA Final )
(44 Points)
Replied 24 June 2017
Suppose a company has branches in different states then whether the composition scheme will apply on aggregate turnover on the company including all its branches or exemption limit of 75 lakh is for all the branches and the company?
HIREN
(Chartered Accountant)
(320 Points)
Replied 24 June 2017
Turnover has to be calculated on PAN basis i.e. Turnover of all Branches, HO, offices has to be added
Devansh Jain
(...)
(1269 Points)
Replied 24 June 2017
HI Iccha, Turnover to be counted for all registered persons sing same PAN. Hence every office will be counted under same PAN. Kindly refere section10 of CGST Act to read more about composition scheme...
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