Aravind Kannan (Future CA ) (154 Points)
30 May 2023Friends,
What is the gst rate for taxpayer under composition scheme who is both a manufacturer and trader or seller of same goods?
is it 2%? i am confused whether it is 2% or 1% ... kindly confirm.. 1% cgst and 1% sgst?
Thanks in advance.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178276 Points)
Replied 30 May 2023
| Manufacturers and Traders (Goods) | CGST 0.5% + SGST | 0.5% | === Total 1% |
Aravind Kannan
(Future CA )
(154 Points)
Replied 31 May 2023
thanks for the reply sir. but i came across the below quote as well, so please kindly clarify.
"
All businesses and individuals who are registered under the Composition Scheme are required to pay a GST rate of 1% to 6% depending on the type of business activity conducted by the registered person or business entity.
The applicable composition scheme GST rate features equal SGST/UGST and CGST split i.e. 1% GST = 0.5% CGST + 0.5% SGST/UGST, 6% GST = 3% SGST/UGST + 3% CGST. The composition levy rates under GST are as follows:
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178276 Points)
Replied 01 June 2023
Herewith attached link of last notification by GST department for rates of GST levy...
https://taxinformation.cbic.gov.in/view-pdf/1000585/ENG/Notifications
Aravind Kannan
(Future CA )
(154 Points)
Replied 01 June 2023
Thank you so much for the clarification sir
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 03 June 2023
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