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Turnover as per composite scheme of gst

Ca.JYOTHI (-) (49 Points)

26 July 2017

Dear Sir,

Please let me know whether we need to consider exempted goods sales while calculating turnover as per composite scheme of GST.

Regards,

S.Jyothi.

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10 Replies

chintan pansuriya (12 Points)
Replied 26 July 2017

previous year turnover limit was 65 lakhs, should I register in composition scheme...?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185261 Points)
Replied 26 July 2017

Yes...... emphasis is on aggregate turnover

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185261 Points)
Replied 26 July 2017

@ chintan: yes you are eligible based on previous year turnover

Ravi SADhiyan (Practice) (4510 Points)
Replied 26 July 2017

YES.............

Ananya Bansal (41 Points)
Replied 26 July 2017

yes aggregate turnover includes exempted goods also

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sourabh soni (Partner) (26 Points)
Replied 26 July 2017

But there is a condition in composition rule that dealer should not engaged in the supply of goods not leviable to tax , so my answer is differ and I will say he cannot go for composition scheme

Studentsca (CA Practice ) (3577 Points)
Replied 27 July 2017

Agree with Sourabh Soni. Turnover cannot include exempted goods in case of a person opting for composition scheme.

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 27 July 2017

YES

You need to consider exempted goods sales while calculating turnover as per composite scheme of GST

Conditions and restrictions for composition levy
The person exercising the option to pay tax under section 10 shall comply with the following conditions:
(a) he is neither a casual taxable person nor a non-resident taxable person;
(b) the goods held in stock by him on the appointed day have not been purchased in the course of inter-State trade or commerce or imported from a place outside India or received from his branch situated outside the State or from his agent or principal outside the State, where the option is exercised under sub-rule (1) of rule 1;
(c) the goods held in stock by him have not been purchased from an unregistered person and where purchased, he pays the tax under sub-section (4) of section 9;
(d) he shall pay tax under sub-section (3) or sub-section (4) of section 9 on inward supply of goods or services or both received from un-registered persons;
(e) he was not engaged in the manufacture of goods as notified under clause (e) of sub-section (2) of section 10, during the preceding financial year;
(f) he shall mention the words “composition taxable person, not eligible to collect tax on supplies” at the top of the bill of supply issued by him; and
(g) he shall mention the words “composition taxable person” on every notice or signboard displayed at a prominent place at his principal place of business and at every additional place or places of business.

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chintan pansuriya (12 Points)
Replied 27 July 2017

I m selling taxable goods and exempted good and I m composition dealer then as manufacturer on which deal I have to pay tax. (On taxable sale or on exempted sale or on both)