Can you help me in the following computation
Suppose I am a Composite dealer under GST
I am an manufacturer
My Aggregate turnover was 40,00,000
Computation 1
CGST 40,00,000*1%=40,000
SGST 40,00,000*1%=40,000
Total Tax(2%)=80,000
Computation 2
40,00,000*1%=40,000
Total Tax =40,000
SGST(50%)=20,000
CGST(50%)=20,000
Above two options which one is right . If both are wrong. Then please suggest the right computation
With respect to composition scheme under GST
Menu
computation of SGST & CGST for composit dealer
Replies (1)
your 2nd computation is correct
composition levy for manufacturers is 1%(CGST=0.5% And SGST=0.5% )
Recent Topics :
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
Related Topics :
CAclubindia
