TAX RATE
This query is : Resolved
Irfan Khan
(Querist)
05 February 2021
Dear Sir
A dealer is registered under composition from 01/07/2017 to 30/06/2018 thereafter registered as regular. In the composition period he shown turnover of Rs. 167220/- whereas on scrutiny by GST department the actual turnover comes out to Rs. 84,45,214/- which is correct.
Now the department is calculating tax commodity wise instead of composition rate.
Is it correct ?
If yes, please quote section.
Thanks
A dealer is registered under composition from 01/07/2017 to 30/06/2018 thereafter registered as regular. In the composition period he shown turnover of Rs. 167220/- whereas on scrutiny by GST department the actual turnover comes out to Rs. 84,45,214/- which is correct.
Now the department is calculating tax commodity wise instead of composition rate.
Is it correct ?
If yes, please quote section.
Thanks
CA R SEETHARAMAN
(Expert)
05 February 2021
Not right
Hotification No. 46/2017 – Central Tax, dated 13.10.2017.
Increase of initially threshold limit seventy-five lakh rupees to one crore rupee to opt composition levy [via Notification No. 46/2017 – Central Tax, dated 13.10.2017 by amending Notification No. 08/2017 – Central Tax, dated 27.06.2017]
Hotification No. 46/2017 – Central Tax, dated 13.10.2017.
Increase of initially threshold limit seventy-five lakh rupees to one crore rupee to opt composition levy [via Notification No. 46/2017 – Central Tax, dated 13.10.2017 by amending Notification No. 08/2017 – Central Tax, dated 27.06.2017]
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