sale of exempt goods liable to tax for composition dealer

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..... sale of exempt goods liable to tax for composition dealer
Query (Issue) Started By: - prasanna Hegde Dated:- 17-4-2018 Last Reply Date:- 20-4-2018 Goods and Services Tax - GST
Got 5 Replies
GST
whether composition dealer is required to pay tax on sale of exempted goods along with taxable goods @ 1% kindly inform Reply By Alkesh Jani: The Reply: Sir, in my point of view, Yes you are .....

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..... required to pay GST on each bill of supply. You are also required to pay tax in terms of Rules 5(*d) and (e) of the CGST Rules, 2017. Reply By KASTURI SETHI: The Reply: As per Section 10(1)(a) of CGST Act, 2017, the tax will be charged on one percent of the turnover in State or turnover in Union Territory in case of a manufacturer. The definition of 'turnover' has been given in Clause ( .....

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..... 112) of Section 2 of the CGST Act. This cause is extracted below" "Turnover in State" or "turnover in Union Territory" 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) and exempt supplies made within a State or Union territory by a taxable person, exports of goods or services or both and int .....

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..... er-State supplies of goods or services or both made from the State or Union Territory by the said taxable person but excludes Central tax, State tax, Union Territory tax, Integrated tax and cess. From the above it is very much clear that, one percent tax will also be levied/paid on the value of exempt supplies as well as export supplies. Reply By Ganeshan Kalyani: The Reply: I endorse the views .....

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..... of the experts .Thanks Reply By Susheel Gupta: The Reply: Dear Prasanna Hegde Section 10(1)(a) has to be read with amended Rule no. 7 (amended from 01.01.2018) and you need to pay tax @ 1% of the turnover of taxable supplies of goods in the State. Regards CA. Susheel Gupta 9811004443, 8510081001 Reply By KASTURI SETHI: The Reply: I support the views of Sh.Sushil Gupta Ji, an expert.
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..... Discussion Forum - Knowledge Sharing .....

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