What is the rate of tax in under composition ?
JAYAPRAKASH K (28 Points)
04 July 2017
kindly explain composition tax 0.5% or 1%
11 Replies
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 04 July 2017
Pl refer notification for composition levy:
https://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-8-central-tax-english.pdf
Muthukkumaran
(Consultant)
(204 Points)
Replied 04 July 2017
Traders 1%,Manufacturers 2% and restaurants @ 5%.No input woukd be available.
JAYAPRAKASH K
(28 Points)
Replied 04 July 2017
trader 1%,means CGST 0 5% AND CGST 0 5 % is it correct?
Muthukkumaran
(Consultant)
(204 Points)
Replied 04 July 2017
Typo I guess.It is CGST 0.5% & SGST 0.5% respectively.
E.KALAIKOVAN
(Sr. Accounts Manager )
(341 Points)
Replied 04 July 2017
Manufacturer - SGST 1% CGST 1% Total 2%
Catering Service - SGST 2.50% CGST 2.50% Total 5.00%
Traders - SGST 0.50% CGST 0.50% Total 1.00%
Inter State supply of Service or goods not possible under the composit scheme
Vivek Modi
(6 Points)
Replied 04 July 2017
i think for
manufacturer - 0.5 + 0.5 i.e 1%
traders - 0.25 + 0.25 i.e. 0.5%
manufacturer - 0.5 + 0.5 i.e 1%
traders - 0.25 + 0.25 i.e. 0.5%
Muthukkumaran
(Consultant)
(204 Points)
Replied 04 July 2017
Sorry it isnt so.Please refer above mentioned rates.
obeid
(learner)
(292 Points)
Replied 04 July 2017
(i) one per cent. of the turnover in State in case of a manufacturer,
(ii) two and a half per cent. of the turnover in State in case of persons engaged in making supplies referred to in clause (b) of paragraph 6 of Schedule II of the said Act, and
(iii) half per cent. of the turnover in State in case of other suppliers:
These are the wordings in the Notification No. 8/2017-Central Tax dated 27/06/2017
I need clarification on second point who are those comming under this 2.5%
Shailesh Nigam
(Professional)
(147 Points)
Replied 05 July 2017
| Originally posted by : E.KALAIKOVAN | ||
 |
Manufacturer - SGST 1% CGST 1% Total 2% Catering Service - SGST 2.50% CGST 2.50% Total 5.00% Traders - SGST 0.50% CGST 0.50% Total 1.00% Inter State supply of Service or goods not possible under the composit scheme |
 |
Ok rate are final
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