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composition

GUNJAN KUMAR (18 Points)

08 July 2018

is there any amendments in composition scheme...?

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4 Replies

Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 08 July 2018

No , ... there is no ammendment in composit scheme

1 Like

Vinod Babu (24196 Points)
Replied 08 July 2018

Please specify what ammendment are you talking about??

GUNJAN KUMAR (18 Points)
Replied 08 July 2018

last tym i think the total turnover is Rs75 lakh
nd rates are for
mfg 1-1%
traders .5-.5% nd
for service 2.5-2.5 %
i m talking about this rates nd turnover in gst

Vinod Babu (24196 Points)
Replied 08 July 2018

composition scheme is the rate structure.
For manufacturer the rate is reduced.
For Manufacturer = 0.50%(CGST) + 0.50(SGST) = 1% of turnover of State/ Union Territory

For supplier supplying food other than alcoholic liquor for human consumption =

2.5% (CGST)+ 2.5% (SGST) = 5% of turnover of State/ Union Territory

For other supplier = 0.50% (CGST) + 0.50% (SGST) = 1% of taxable turnover of State/ Union Territory

3 Like