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Composition scheme

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16 Points Posted on 08 July 2017
Dealer (trader) dealing both Taxable & Exempted goods.Whether 1% tax to be paid on both Taxable & Exempted turnover?

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K.Madhusudhanan
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On 08 July 2017 at 14:34 Report
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Proprietor A K Kandpal & Associates
1442 Points Posted on 08 July 2017
yes....1% of aggregate turnover....and aggregate turnover also includes exempted turnover.
7 Reply
On 08 July 2017 at 14:36
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16 Points Posted on 08 July 2017
Thanks for reply
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On 08 July 2017 at 14:55
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16 Points Posted on 08 July 2017
So dealer sales includes total turnover.Say eg: Total Taxable turnover 25 lakhs & Exempted turnover 40 lakhs.Dealer has to pay 1% on 65 lakhs.Is my understanding is correct ?
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On 08 July 2017 at 14:58
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Proprietor A K Kandpal & Associates
1442 Points Posted on 08 July 2017
yes...you r right.
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On 08 July 2017 at 15:03
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16 Points Posted on 08 July 2017
Thanks lot for prompt response
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On 08 July 2017 at 15:12


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