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if I have opted for composition and i have no ITC balance then on balance stock I Will have to deposit gst on basic tax or one percent
Replies (3)
Hello
We are opting for composition. The only Confusion is that tax paid will be on taxable items only or on turnover
We are opting for composition. The only Confusion is that tax paid will be on taxable items only or on turnover
| Originally posted by : Deepak Agrwal | ||
 |
if I have opted for composition and i have no ITC balance then on balance stock I Will have to deposit gst on basic tax or one percent |  |
Don't be Deposit Basic Tax. You can find the following which your category then go to follow.....
* Manufacturers, other than manufacturers of such goods as may be notified by the Government - one per cent.
* Suppliers making supplies referred to in clause (b) of paragraph 6 of Schedule II - two and a half per cent.
* Any other supplier eligible for composition levy under section 10 and the provisions of this Chapter - half per cent.
| Originally posted by : Umesh Agarwal | ||
|
Hello We are opting for composition. The only Confusion is that tax paid will be on taxable items only or on turnover | |
Don't be Confused..... Your Turn Over based.
Composition scheme only for Turn Over based
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