composition scheme tax implication

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....omposition scheme tax implication<br> Query (Issue) Started By: - mithun saha Dated:- 13-9-2017 Last Reply Date:- 13-9-2017 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>sir my turnover con....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sists of Nil Rates supply &#8377; 100000/( Seeds)- and Taxable goods supply &#8377; 100000/( fertilizer)- . I am under composition scheme. Under composition scheme on which i have to pay tax @1% eithe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r on total &#8377; 200000/- or on taxable goods supply Rs.100000/- please advise Reply By KASTURI SETHI: The Reply: 1 % on taxable supplies only. However, for computation of &#8377; 75 lakhs defini....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion of &#39;aggregate turnover&#39; has to be followed. Reply By Himansu Sekhar: The Reply: Only on taxable supply Reply By Ganeshan Kalyani: The Reply: Sir, the threshold limit for composition s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cheme of taxation is 75lacs. The rate of tax is 1% on taxable turnover.<br> Discussion Forum - Knowledge Sharing ....