harish chandra • 17 October 2018
would composition turnover include exempt supplies for calculation g 1% tax??
4 Replies
M Sairam
(Semi Qualified CA)
(421 Points)
Replied 17 October 2018
aggregate turnover" means the aggregate value of all taxable supplies [excluding the value of inward supplies on which tax is payable by a person on reverse charge basis], exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess;
so exempt supplies are need to be include for the conclusion of actual turnover for availing comp. sheme
so exempt supplies are need to be include for the conclusion of actual turnover for availing comp. sheme
Vinod Babu
(24191 Points)
Replied 18 October 2018
In the new version of GSTR4, your sales turnover can be shown seperately 0% & 1%
MY Indians Tv
(292 Points)
Replied 29 October 2018
for computation of turnover exempt supplies to included.
But for payment of gst @ 1% only on taxable supplies (assuming your trader)
But for payment of gst @ 1% only on taxable supplies (assuming your trader)
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