will a composition cess be charged on notified goods for cess in a intra-state sale?
how can one book ITC on composition cess?
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GST COMPOSITION CESS
Replies (5)
what is composition Cess ?????
*if u meant compensation cess, then yes gst compensation cess will be applicable on intra state supply of notified goods.
And u can claim ITC for this compensation cess paid , however, it can only be utilised for payment of GST compensation cess liability only
any example would be helpful..
compensation cess is payable on specified luxury goods and demerit goods such as motor car,tobacco etc. it is calculated on value if taxable supply. it is payable on intra and inter state supply. credit on account of cess on inward supply and be used for payment of cess on outward supply.
hmmm thanks a lot @ Nithin
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