1. Wheter tax need to be paid @ 6% for EXEMPT SUPPLIES if the Service provider opts for composition scheme?
2. Whether tax need to paid by service provider on OUTWARD supplies on which RCM is applicable, if he opts for composition scheme?
9 Replies
hemant sharma
(141 Points)
Replied 21 March 2022
For composition service providers, the applicable GST rate is 6% (being 3% CGST + 3% SGST) For calculation of the aggregate annual turnover, the value of supply of exempt services is also considered
Lotus Agrawal
(Practice)
(1361 Points)
Replied 21 March 2022
@ hemant So Tax need not be paid on exempt supply? As in CMP-08 field given for furnishing the the value of supply is written as "Outward suppy including exempt supplies."
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13788 Points)
Replied 21 March 2022
Tax is required to be paid only on taxable supply and not on exempted. In CMP-08 turnover will be aggregate.
RCM is applicable even on composition tax payers.
Lotus Agrawal
(Practice)
(1361 Points)
Replied 21 March 2022
If RCM is applicable, where the value of RCM based OUTWARD supply will be shown in CMP-08?
prasad Nilugal
( GST Practitioner & Accounts )
(14831 Points)
Replied 21 March 2022
Please refer notification 2/2019 CT rate date 7/3/2019 .
prasad Nilugal
( GST Practitioner & Accounts )
(14831 Points)
Replied 21 March 2022
Also Please refer CMP08 form , in Part B of CGST rules 2017
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