1. Wheter tax need to be paid @ 6% for EXEMPT SUPPLIES if the Service provider opts for composition scheme?
2. Whether tax need to paid by service provider on OUTWARD supplies on which RCM is applicable, if he opts for composition scheme?
Menu
Composition scheme-Service Provider
Replies (9)
For composition service providers, the applicable GST rate is 6% (being 3% CGST + 3% SGST) For calculation of the aggregate annual turnover, the value of supply of exempt services is also considered
1) Yes
2) Yes
2) Yes
@ hemant So Tax need not be paid on exempt supply? As in CMP-08 field given for furnishing the the value of supply is written as "Outward suppy including exempt supplies."
Tax is required to be paid only on taxable supply and not on exempted. In CMP-08 turnover will be aggregate.
RCM is applicable even on composition tax payers.
If RCM is applicable, where the value of RCM based OUTWARD supply will be shown in CMP-08?
Please refer notification 2/2019 CT rate date 7/3/2019 .
Yes got my answer. thank you everyone.
Also Please refer CMP08 form , in Part B of CGST rules 2017
Okay..
Recent Threads
- Clarification on Deemed Export Status for EOU-to-E
- LTCG Tax on property
- Short term gain in itr2, missing 111A
- Errors in ITR Filing: Minimum One Character Requir
- Which ITR Opt
- Employer Details for NRI
- Section 194C or 194J apply in survey fee to determ
- Accidental Switch to New Regime using Form 10-IEA
- Should I file Revised Return U/S 139 (5)?
- Voice commands for Tally ERP - would CAs find this
Related Threads
CAclubindia
