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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

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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.

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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.