Composition scheme both taxable goods and nil tax goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2017
A dealer dealing with taxable goods as well as nil tax rated supplies has to pay tax of 1% under composition scheme on total turnover (turnover of taxable and nil rated supplies) or only on turnover of taxable goods.
Anil Ahuja
(Expert)
22 August 2017
Under excise act, nil rated goods we can claim ITC so that nil rated was also clubbed in turnover
But in gst we can't take itc on nil rated goods
So in my opinion there is no need to club them for t.o of composition
But in gst we can't take itc on nil rated goods
So in my opinion there is no need to club them for t.o of composition
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Rectification under processing even after 6 months cpc portal
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- Applicability of tax on invoice
- Import of Capital Machine
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Tally: Imported bank entries do not show up in manual reconciliation
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
