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composition scheme tax implication, Goods and Services Tax - GST

Issue Id: - 112807
Dated: 13-9-2017
By:- mithun saha

composition scheme tax implication


  • Contents

sir

my turnover consists of Nil Rates supply ₹ 100000/( Seeds)- and Taxable goods supply ₹ 100000/( fertilizer)- . I am under composition scheme. Under composition scheme on which i have to pay tax @1% either on total ₹ 200000/- or on taxable goods supply Rs.100000/-

please advise

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Showing Replies 1 to 3 of 3 Records

Page: 1


1 Dated: 13-9-2017
By:- KASTURI SETHI

1 % on taxable supplies only. However, for computation of ₹ 75 lakhs definition of 'aggregate turnover' has to be followed.


2 Dated: 13-9-2017
By:- Himansu Sekhar

Only on taxable supply


3 Dated: 13-9-2017
By:- Ganeshan Kalyani

Sir, the threshold limit for composition scheme of taxation is 75lacs. The rate of tax is 1% on taxable turnover.


Page: 1

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