Composition scheme

This query is : Resolved

riddhi (Querist)
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12 November 2017 As per recent amendment of increasing the threshold to Rs. 1.5Cr I would like to know few things:
1. I am a dealer selling medicines so if I opt for Composition scheme then can the manufacturer from whom I purchase charge Gst in the bill and can I charge GST to my sales invoice?
2. Manufacturers have to pay 1% tax on turnover so it is the same for me too if I opt for Composition Scheme? 1% tax on average turnover every quarter.
3. I wont get Input tax credit and no inter state supplies but other than that is there any benefit? Because in this I have to pay tax quarterly and I think monthly GST returns which I anyways pay for regular GST returns and tax payments.
Please help me.
Currently I am registered under normal Switch over from VAT and not Composition scheme so I want to know whether COmposition is better option or not.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 November 2017 1 you can't charge GST in your sales invoice.
2 1% on actual turnover for the quarter payable.
3 you can make inter state supply. The benefit is no need to issue tax invoice and maintenance of account.

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