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Composition Scheme For Retail Traders Under GST

Goods and Services Tax - GST - By: - sunil kumar Gupta - Dated:- 1-7-2017 - Comparision of Normal Dealer & Composition Dealer Under GST NORMAL REGISTERED DEALER 5% 12% 18% 28% COLLECTED FROM CUTOMER 1,00,000.00 1,00,000.00 1,00,000.00 1,00,000.00 GST 4,761.90 10,714.29 15,254.24 21,875.00 (A) SELLING PRICE 95,238.10 89,285.71 84,745.76 78,125.00 (B) PURCHASE PRICE 70,000.00 70,000.00 70,000.00 70,000.00 GST PAID ON PURCHASE 3,500.00 8,400.00 12,600.00 19,600.00 NET AMOUNT PAID 73,500.00 78,4 .....

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.90 20,609.90 16,409.90 9,409.90 Difference in Income (benefit to composition dealer) 271.81 1,324.19 1,664.14 1,284.90 Notes 1 Composition also requires quarterly returns in GSTR-4 to be filed and one annual return in GSTR-9A. GSTR-4 is to be filed upto 18th of the month following the qaurter.GSTR-9 is to be filed upto 31st December of next financial year. 2 Cash sales of upto ₹ 200 can be clubbed together as one on daily basis. However bill should be raised where the cutomer so demands 3 .....

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