Respectd sir/madam
According to gst law non gst or composition person cannot take gst from customer..in this case the rate will be different from gst outlate?
The profit of margin will reduce for small businesses?
What will be the selling price for MRP product like medicine..which rate non gst or composition person take?
is it MRP/gst%....
Then every one will be force to take gst to protect his profit is it not?
Consumer now very confuse as well as retail shop kindly answer....
3 Replies
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 15 July 2017
composition levy will always reduce profit of the dealer u can not charge gst on sale amount nor u can take the rate more than MRP.
Anupam Goswami
(342 Points)
Replied 16 July 2017
its i know dear u r not able to get what i ask..kindly go through
Rajarajan
(AO)
(272 Points)
Replied 16 July 2017
Registered under the Composite Scheme you will pay tax at a rate not more than 1% for manufacturer, 2.5% for restaurant sector and 0.5% for other suppliers of turnover.
No records to be maintained
Neither your are allowed to avail ITC nor issue an invoice
Also buyer from composition dealer will not be able to claim input tax on such goods.
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