Tax on turnover in composition

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2017 Total Turnover in Composition Means total of Taxable Supplies, Exempt Supplies and exports.

My client is Trading Milk and Its Products, His Turnover Includes Taxable Supplies (Milk Products) and Exempt Supplies (Milk & Curd). Whether He as to Pay 1% tax on both Taxable Supplies and Exempt Supplies (The exempted Product is it self Exempted from Tax Under GST) ? Please Explain.

Difference between Non GST Supply and Non Taxable Supply, Please Explain with Example.

Difference between Nil Rate Supply, Zero Rate Supply and Exempted Supply, Please explain with Example.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 November 2017 As per recent GST council decision 1% GST payable on taxable supply only.
Nil rate supply and exempt supply on and the same.
Export supply is zero rated but taxable when sold within India (taxable items)

RAJA P M

RAJA P M (Expert)
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20 November 2017 Dear Mr CA R SEETHARAMAN Sir., Good Morning Sir.... What is this meaning (Nil rate supply and exempt supply on and the same.) the same means your 1st point or the Items rate as excempt / Nil rated...?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 November 2017 Good morning exempt item shown some where as nil rated it is one and the same.

RAJA P M

RAJA P M (Expert)
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20 November 2017 Okay Sir... In composition scheme it's taxable @ 1% (Taxable + Excempt + Nil Rated)... Any changes in this regard Sir...?!

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 November 2017 Yes change from 15th as per recent GST council decision.

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RAJA P M

RAJA P M (Expert)
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20 November 2017 Sir., From 15/11/17 Composition dealer ll pay Tax only taxable items. Not calculated on excempted and Nil Rated goods...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 November 2017 Yes you are right.....

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RAJA P M

RAJA P M (Expert)
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20 November 2017 Thank you Sir., Thank you for your valuable reply...

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2017 Sir,
Thank You all,
Form 15/11/2017 composition dealer will pay @ 1% Tax On Only Taxable Items ? We want to Declare Exempted or Nil Items In Return ? Can you Please share any notifications regarding this.

Sir, One More Query
Dealer having VAT Registration as Regular, but Now in GST he is Opt for Composition Scheme, whether he as to file TRAN 01 ? and He as taken composition scheme on 15/08/2017 before whether he as to pay tax as regular ?

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