1)I have gst number under composites scheme and my annual turnover is below 20 lakh should I pay 1 %composite tax or not.
2)my annual turnover is below 20 lakh should I maintain record of purchase and issue bill of every item in retail medical shop.
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Gst composite
Replies (3)
Once you are registered under composition, you must pay 1% tax on your sales, irrespective of your turnover.
Once you are registered under composition scheme, you must pay 1% tax on your total sales, irrespective of your turnover.
Yes you should maintain record of purchase. But no need to issue bill for sale less than Rs. 200 to a customer unless the customer is registered or demands for the bill. You can make a aggregate bill for such sales at the end of the day
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