compositions dealer
saud ahmed (Student CA IPC / IPCC) (270 Points)
31 July 2019
whether compositions dealer liable to pay tax @ 1% on exempt and nil rates goods
7 Replies
Shweta Gupta
(Assistant Manager)
(224 Points)
Replied 31 July 2019
yes you have to pay .5 CGST and .5 SGST on aggregate turnover.
Kailash Pandey
(80 Points)
Replied 31 July 2019
if trader , tax payable only on taxable supply. pls refer to notification no. 8/2017 and 1/2018 for more clarification.
saud ahmed
(Student CA IPC / IPCC)
(270 Points)
Replied 31 July 2019
I didn't get any clarification in such notifications regarding non levy of tax by composition dealer on exempt supply
CA Haritha Komma
(Chartered Accountant)
(1147 Points)
Replied 31 July 2019
The notification mentions to pay on taxable supplies of goods 1/2018-CT. The term taxable supply means which attracts levy under GST. So, it appears that even exempted supplies attracts 0.1% as there is levy on the exempted supplies but exempted for tax payment.
Shivam RC
(Student)
(23683 Points)
Replied 31 July 2019
Traders under Composition Scheme are required to pay GST only on their Taxable Turnover and will not include Exempt Supply.
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