About GST

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Bhairava (Querist)
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17 July 2017 sir, my friend's business turnover is less than 20 lakhs per anum. But he voluntarily registered for GST under composition scheme. Do he need to pay tax @1% on sales even if turnover is less than 20lakhs? He is also selling exempted goods, 0% tax goods and taxable goods On which goods he need to pay tax?

CA S K MISHRA

CA S K MISHRA (Expert)
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17 July 2017 Turnover includes all outward supply, exempted supply & taxable supply. If a person takes registration under GST even if his aggregate turnover is less than Rs.20 lakhs, he can opt for Composition scheme. For trading business GST is 1% on taxable goods.

Bhairava

Bhairava (Querist)
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17 July 2017 Can he buy goods from other state?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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17 July 2017 He is required to pay tax@1% once he get register in GST. Also tax is to be paid on total turnover(taxable+exempted).

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