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Bakery business


Sri Snigdha (Articles Assisstant)     24 November 2020

Sri Snigdha
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Can a bakery business can be otped for composition scheme? then what is the rate of tax?

Sai Rocky

Sai Rocky (Student)     24 November 2020

Sai Rocky
Student 
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Ofcourse,they can pay under composition scheme if its annual turnover under prescribed limits.

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Vijayprakash P

Vijayprakash P   24 November 2020

Vijayprakash P

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Threshold limit:1.5 crores. GST Rate:1% (0.5%IGST, 0.5%SGST)

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Sridharr m.p.s

Sridharr m.p.s   24 November 2020

Sridharr m.p.s

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Bakery sales taxable at 5% not 1%

Sri Snigdha

Sri Snigdha (Articles Assisstant)     24 November 2020

Sri Snigdha
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Sir can you provide any notification for that

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     27 November 2020

Pankaj Rawat
GST Practitioner 
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Yes ....... the bakery business can opt for composition scheme & Charge 1% GST on turnover .

5% GST is applicable in case of Restaurant & if bakery seller is providing seating arrangement & serving the customers under his business premises will be cover under the restaurant business & liable to charge 5% GST FC (without ITC) in that case.
(Notification 46/2017 CT ,rate

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JATINDER KUMAR

JATINDER KUMAR (Accountant)     28 November 2020

JATINDER KUMAR
Accountant 
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Agree with Mr Pankaj Ji reply

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