Can a jeweller opt for composition scheme ??
as he sale jewellery along with charging making charges ( which is service)
8 Replies
casirishkumar@gmail.com
(34 Points)
Replied 11 July 2017
yes.opt for composition.it is naturally bundelled
CA Rashmi Gandhi
(Chartered Accountant)
(86461 Points)
Replied 12 July 2017
Composition scheme is not advisable for Sarrafa dealers who purchase from unregistered dealer.
Because they have to purchase after paying @ 3% under RCM for which no credit available.
Also on sale they have to pay @ 1% on sales which would not be collected from customer .
So they have to pay 4% aggregate.
Because they have to purchase after paying @ 3% under RCM for which no credit available.
Also on sale they have to pay @ 1% on sales which would not be collected from customer .
So they have to pay 4% aggregate.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 12 July 2017
Composition scheme not advisable for Jewellery business. Bcoz, They can reach 75lakhs is very Quickly and also compared regular tax and Composition Tax then Composition Tax is also Higher....
So, Go to regular..
So, Go to regular..
casirishkumar@gmail.com
(34 Points)
Replied 12 July 2017
actually composition scheme is not preferable for gold industry.
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