Composition scheme

258 views
User Avatar

107 Points Posted on 25 March 2020
in food & beverages pay tax 5% of total turnover or total turnover (exclud exempt turnover) ?
1 Reply Share Follow
On 25 March 2020 at 15:26 Report
Replies (4)
Quick Summary
This discussion clarifies the Goods and Services Tax (GST) applicable to the food and beverage sector. The consensus is that the 5% GST rate is calculated on the total turnover, which includes exempt supplies, interstate sales, and exports, as defined by Section 2(112) of the CGST Act, 2017.

User Avatar

227 Points Posted on 04 April 2020
What is your query???
Reply
On 04 April 2020 at 22:54
User Avatar

Chartered Accountant
12739 Points Posted on 05 April 2020

total t/o in state / UT (including exempt supplies) Sec 10(1) 

Reply
On 05 April 2020 at 12:00
User Avatar

Chartered Accountant
12739 Points Posted on 05 April 2020

Sec 2(112) turnover in states includes exempt supplies made within a state or UT by a taxable person . 

Reply
On 05 April 2020 at 12:01
User Avatar

Member
75 Points Posted on 05 April 2020
Dear Bhargav, 5% of tax is to be calculated on total turnover including exempt supplies, interstate supplies and exports also as per sec 2(112) of CGST Act, 2017.
Reply
On 05 April 2020 at 12:53

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Foreign remittance
  2. Affordable Residential Flats in Gurgaon
  3. Manufacturing
  4. TAN REGISTRATION ON E-FILLING SITE
  5. Form 10-IEA – Continuing Old Regime
  6. Income tax act 2026
  7. Belated Return where Form 10IEA filed this year to
  8. GST Reconciliation Tool (2A vs Books) - looking fo
  9. TDS ON PF FORM 19 WITHDRAWAL
  10. Can a virtual office in Mumbai be used for company

More recent discussions | Post

Related Topics :

Loading