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
Message likes :
1 times
22 May 2019
exempted goods turnover value show the composite returns gstr4
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on Fixed Assets purchased
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
