what if a person is in composition scheme under section 10 and he supply two types of goods.one is taxable @ 18% and one is Nil or exempt supply
Total supply @ 18 % goods is 300000/- and
Nil/ Exempt supply is 500000/-
what is the total taxable amount ?
Note/- He is mfg and 1% rate is applicable to him..
And another question is whether he can avail credit if he has paid GST under RCM
Menu
composition scheme
Replies (4)
Under section 10 taxable person supply the exempt supply is ineligible under the composition scheme, department remove him from u/s 10( Read section 10 eligibility conditions). Section 10 supplier no eligible for any itc whether forward charges or RCM.
ok thanks
Composition Dealer can sell exempted Goods & and not liable to charge GST on same As per Notification 1/2018 CT .
Composit dealer is not allowed provide any services
No ITC is available as per section 16 CGST Act , to taxpayer Registered (Composit Dealer) under section 10 CGST Act , Hence
Composition Dealer cannot avail ITC on the GST deposited under RCM
Composit dealer is not allowed provide any services
No ITC is available as per section 16 CGST Act , to taxpayer Registered (Composit Dealer) under section 10 CGST Act , Hence
Composition Dealer cannot avail ITC on the GST deposited under RCM
Yes, no gst payable on exempted supplies for composition wef January 2018.
Composition dealer is liable to pay gst on taxable supplies only.
Composition dealer is liable to pay gst on taxable supplies only.
Recent Topic
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
Related Topics
CAclubindia
