Menu
composition scheme
please explain composition scheme under GST.. returns to be filled monthly or quarterly? please tell the rate
Replies (1)
Composition scheme is for those whose turnover is 50 lakh or less.
Service suppliers are not allowed to take composition scheme with the exception of outdoor catering and restaurant.
Rates are 5% for outdoor catering and restaurant, 2% for manufacturers and 1% for others.
The composition scheme supplier can neither take credits nor can charge GST on customers. He will have to pay GST from his own pocket.
Instead of monthly quarterly returns will be filed.
Service suppliers are not allowed to take composition scheme with the exception of outdoor catering and restaurant.
Rates are 5% for outdoor catering and restaurant, 2% for manufacturers and 1% for others.
The composition scheme supplier can neither take credits nor can charge GST on customers. He will have to pay GST from his own pocket.
Instead of monthly quarterly returns will be filed.
Recent Topic
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
Related Topics
CAclubindia
