Composition scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2017 Dear all,

I have a few queries regarding composition scheme (please answer keeping July to September quarter in mind):
1. Whether sale of exempted goods has to be included in Turnover for calculating composition tax for July to September quarter
2. Whether rate of composition tax is 1% for July to September quarter
3. What is the due date to pay composition tax for July to September quarter

Thanks & Regards.

Sumeet

Sumeet (Expert)
Follow

21 December 2017 Hello,

1. Yes, Sale of exempted goods should also be included in turnover for calculating composition tax for July-Sep quarter. Since exclusion of exempted goods from turnover for composition tax was finalized in council meeting held in November and was to be effective prospectively from 15th November onward. But no official notification issued for the same till date (i.e. 21/12/2017) regarding the same.
2. Rate is 1% for Trader, 2% for manufacturer and 5% for restaurant business for July-Sep Quarter.
3. Due date for payment of tax and filing of return (GSTR4) is 24th December 2017.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Sasidhar B

Lalan Kumar Jha

Chnmaya parhi

CA Uzma Khan

Arpita Gilhotra

Subscribe Now

Composition scheme

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA