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Composition scheme on exempt supplies
Is exempt supplies be liable for tax of 1% rate if composition scheme opted?
Replies (3)
First of all, composite dealer cannnot supply of goods which r not leviable to tax. If u r a manufacturer then 1% of turnover (taxable +exempt).
Exempted supplies are no need to take registration
If there are taxable and exempt supplies of trader
then composition rate will be liable to 1% of taxable turnover or total turnover.
then composition rate will be liable to 1% of taxable turnover or total turnover.
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