Composition scheme in gst

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Accountant
32 Points Joined January 2017

Hi

What is the composition scheme in GST ?

I have started a business of selling fast food and bakery goods like pizza, burger, cake, cold drink, coffee etc. and my sale would not achieve 50 lac.

can regiuster under composition scheme ?

what amount of tax to be paid ?

Which GST returns have to file ?

Regards,

Parvinder Singh

 

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On 27 June 2017 at 07:56 Report
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Chartered Accountant
320 Points Joined May 2010
Composition shceme is applicable to those who have turnover of less than 75 lakhs.
Since you are restaurant service provider GST rate under composition is 5%. You cannot take any input credit.
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On 27 June 2017 at 08:40
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Manager-Accounts & GST Consultant
5124 Points Joined July 2014

Yes you can get registered under composition scheme and you will have to file GSTR-4 quarterly on the 18th of the month succeeding the Qtr.

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On 27 June 2017 at 11:04


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