One of my friend is ophthalmologist and he is having eye care. He also sell the spectacles under regular GST scheme. He wants to know..
1. What is rate of GST?
2. What is limit for composite scheme?
3. Can he convert regular to scheme mid year of FY?
Any Inter-state Sale ?.
No. there is a inter state purchase.
1) GST rate cgst sgst Total
Manufacturer & Traders 0.5 % 0.5 % 1 %
Restaurants not serving alcohol 2.5 % 2.5% 5%
Others service provider's 3% 3% 6%
2) 1) Limit is 1.5 crore (subject to conditions )
2) For other service providers 50 lacs (subject to conditions)
3) You can not opt composition scheme in mid year .
please confirm with others also.
https://cleartax.in/s/gst-composition-scheme also check out this link .
Also Please refer on CBIC web site / GST / Notification 2 /2019- (central Tax rate ) dt 7th march 2019 -composition scheme for Service provider .
If he opt for composition scheme, He can still buy goods from out side the state?
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