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Bakery business
Can a bakery business can be otped for composition scheme? then what is the rate of tax?
Replies (7)
Quick Summary
Ofcourse,they can pay under composition scheme if its annual turnover under prescribed limits.
Threshold limit:1.5 crores. GST Rate:1% (0.5%IGST, 0.5%SGST)
Bakery sales taxable at 5% not 1%
Sir can you provide any notification for that
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
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
Agree with Mr Pankaj Ji reply
Mr.Pankaj ji, Notification not found .pls provide the link of the said notification
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