Composite for gst
This query is : Open
22 May 2019
One gst registered composite dealer trading for kirana goods taxable and exempted goods selling.
1)Tax payble rate 1% on taxable goods only is correct or incorrect
2)At present freight charges paid 5 thousand above rcm applicable.
1)Tax payble rate 1% on taxable goods only is correct or incorrect
2)At present freight charges paid 5 thousand above rcm applicable.
22 May 2019
1. It is correct . As per notification dated 01/ 2018 dt 01.01.2018, turnover in case of traders has been defined as ‘ Turnover of taxable supplies of goods’
2. RCM above 5000 is not applicable . However , RCM is still applicable on payment to GTA ( They can charge 5% without ITC or 12% with ITC ) (If GTA opts to charge 5% , RCM is applicable )
2
2. RCM above 5000 is not applicable . However , RCM is still applicable on payment to GTA ( They can charge 5% without ITC or 12% with ITC ) (If GTA opts to charge 5% , RCM is applicable )
2
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22 May 2019
exempted goods turnover value show the composite returns gstr4
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