About medical shop (composition shceme)
This query is : Resolved
18 January 2016
DEAR SIRS
MY CLIENT HAVE RD MEDICAL SHOP WITH COMPOSITION SCHEME ..MY PROBLEM IS WHATS THE RATE OF VAT ....
1) 8% ON SALE MINUS PURCHASE
2) 1.5% ON TOTAL SALES
PLEASE REFER ME CODE OF THAT
MY CLIENT HAVE RD MEDICAL SHOP WITH COMPOSITION SCHEME ..MY PROBLEM IS WHATS THE RATE OF VAT ....
1) 8% ON SALE MINUS PURCHASE
2) 1.5% ON TOTAL SALES
PLEASE REFER ME CODE OF THAT
KAVIRAJA ADDANGADI
(Expert)
18 January 2016
Which State ? Normally Composition Dealer 1% on Total Gross Turnover
KAVIRAJA ADDANGADI
(Expert)
18 January 2016
there is two option in Maharashtra 1% if you pay on entire turnover including Exempt goods.
Option if you pay option to Pay COT on 1.5% on turnover sales on taxable goods. refer Trade circular VAT/AMD/2014/8/ADM-8
Option if you pay option to Pay COT on 1.5% on turnover sales on taxable goods. refer Trade circular VAT/AMD/2014/8/ADM-8
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