I have sales both item tax free and taxable now my question is can I have paid tax on total turnover only paid in taxable sales please reply
I have sales both item tax free and taxable now my question is can I have paid tax on total turnover only paid in taxable sales please reply
Only Taxable Goods & services
Taxable & Non- Taxable goods & Services Culb only for Registration
You only have to pay for taxable Goods&Services.
you have to paid total turnover..the word is mention in act that is overall turnover will be applicabe whethe it is exempted or its taxable...
How do I make Bill of Soupili bill?
Making Taxes Different With Direct Amount
IN COMPOSITION SCHEME YOU CAN'T CHARGE ANY KIND OF TAX ON YOUR SALE INVOICE JUST YOU HAVE TO GIVE DECLARATION ONE LINE "Composition taxable person, not eligible to collect tax on supplies” LIKE THIS...
Under composition scheme, tax has to paid on turnover.
And
Aggregate turnover will be computed on the basis of turnover on an all India basis and will include value of all taxable supplies, exempt supplies and exports made by all persons with same PAN, but would exclude inward supplies under reverse charge as well as central, State/Union Territory and Integrated taxes and cess.
In Composition Scheme, If u are a trader, you have to pay 1% tax on Both Taxable & Non Taxable Goods, provided your annual turnover is upto 75 Lakhs
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