Composition scheme maharashtra
This query is : Resolved
sachin nikam
(Querist)
02 June 2014
what is rate of composition scheme in Maharashtra?
sachin nikam
(Querist)
02 June 2014
Dear Expert.....plz revert on urgent basis
sachin nikam
(Querist)
04 June 2014
no any expert to answer this question?
sachin nikam
(Querist)
05 June 2014
pls answer the question
20 July 2024
As of my last update, the Composition Scheme under GST in Maharashtra is applicable at the following rates:
1. **Manufacturers and Traders**: 1% of turnover
2. **Restaurants**: 5% of turnover
These rates are applicable on the turnover of taxable supplies of goods or services. Businesses eligible for the Composition Scheme can opt for it if their aggregate turnover in the preceding financial year does not exceed Rs. 1.5 crore.
Please note that the rates may be subject to change based on updates from the GST Council or Maharashtra state authorities. It's advisable to check with a GST consultant or the official GST portal for the most current information and any recent changes to the Composition Scheme rates in Maharashtra.
1. **Manufacturers and Traders**: 1% of turnover
2. **Restaurants**: 5% of turnover
These rates are applicable on the turnover of taxable supplies of goods or services. Businesses eligible for the Composition Scheme can opt for it if their aggregate turnover in the preceding financial year does not exceed Rs. 1.5 crore.
Please note that the rates may be subject to change based on updates from the GST Council or Maharashtra state authorities. It's advisable to check with a GST consultant or the official GST portal for the most current information and any recent changes to the Composition Scheme rates in Maharashtra.
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