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Composition tax scheme under gst

tabrej (assistant) (83 Points)

07 April 2017

can anyone explain how to opt for composition scheme under GST? and if i am a regular VAT registrant under VAT act, and i am purchasing goods from another state, but do i have sales only within the state, am i eligible to opt for composition scheme under GST?

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12 Replies

BN Murali (Manager) (129 Points)
Replied 09 April 2017

yes.if your aggregate turnover below 50lac.you can choose composition scheme.but you can't claim itc on your inwards and you have to pay nominal rate of tax on your outward supply (rate still not finalised). your customer can't claim itc on your outward supply.

MANTU KUMAR (STUDENT) (29 Points)
Replied 10 April 2017

No,You are not eligible to opt composition scheme; because you are purchasing goods from another state.

BN Murali (Manager) (129 Points)
Replied 10 April 2017

as section 9 c talks only about, not eligible in case doing inter state supply.i hope there is no restrictions for inward supply.

tabrej (assistant) (83 Points)
Replied 11 April 2017

is interstate purchase is allowed under COMPOSITION SCHEME UNDER GST?

MANTU KUMAR (STUDENT) (29 Points)
Replied 11 April 2017

Yes, Interstate purchase is allowed under composition scheme under GST

MANTU KUMAR (STUDENT) (29 Points)
Replied 11 April 2017

I apologise for my previous reply

tabrej (assistant) (83 Points)
Replied 16 April 2017

Returns under composition scheme are monthly or quarterly?

thank you all for sharing information

1 Like

gaurav (Articleship) (25 Points)
Replied 23 May 2017

what is the rate of GST under restaurant business in composition

Jeetram (Service) (22 Points)
Replied 06 June 2017

Yes you can but subject to your annual sales should not be more than rs 50 lakhs. in composition scheme total 5% tax will be charged, 2.5% CGSt and 2.5% sgst.
if your turnover is greater than 50 lakhs, GST will be applicable at norm rates and you input credit will be applicable either your input purchases are within the state or outside state.

Shivaprasad Rao (Article Assistant) (97 Points)
Replied 08 June 2017

Whether i who had opted composition scheme have to pay Tax under reverse charge ????

Kaushal (not) (22 Points)
Replied 09 June 2017

I have a medical shop having turnover of around 30 lac, will I be eligible for composition scheme?

DILIP PALEKAR (2 Points)
Replied 16 June 2017

I think so act is mentioning only 'outward supply of goods ' and silent over inward (purchase from other states )supply.
MEANS WE CAN MAKE PURCHASES FROM OTHER STATES. . . . But govt should clarify on this issue.