composite tax
Rajeswari Manjunath (15 Points)
28 June 2017
I am manufactirar of branded coffee powder with annual turnover of 45 lakh.can I opt for composite taxing system
2 Replies
NITIN KOTAK
(SERVICE)
(1465 Points)
Replied 28 June 2017
yes, if your turnover less than 75 lacs , you can go for composition scheem. but you can not sell outside the state and you can not take benifit of input tax credit. and your status is manufacture than you have to pay 5% tax on your supply.
Recent Topics
- HSN Summary B2B and B2C
- DRC-01 Demand Notice for filing GSTR-9 Wrongly
- Income Tax for freelancing services
- Income Tax Return Filing Reg
- DRC 03 payment method
- GST Registration for Service Providers
- Tax for individual freelancing service providers
- LUT Number confusion! ARN or Reference Number
- Section 44ADA Query - 75 Lakh Limit Clarification
- GST on Rent RCM
Related Threads
CAclubindia
