In composition scheme exempted turnover taxble or not
Giridhara Rao Uppu (2 Points)
31 July 2019
in composition scheme exempted turnover table or not
2 Replies
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 31 July 2019
composition scheme only interest income is exempted from GST and on all other need to pay tax
Shivam RC
(Student)
(23683 Points)
Replied 31 July 2019
Incase of Traders, they have to pay tax only on Taxable Value of Goods.
Manufacturers and Restaurants Service Providers are required to pay tax on their Turnover in the State which includes exempt supply. ( Exception : They are not required to pay GST on Interest Income which is exempted under GST ).
Manufacturers and Restaurants Service Providers are required to pay tax on their Turnover in the State which includes exempt supply. ( Exception : They are not required to pay GST on Interest Income which is exempted under GST ).
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