Sir we have total sales for 2017 March (total 12 months sales) Rs 49.00 Lakhs of cement paint (we are paint manufacturer) Please inform our GST rate to apply. As per our Auditor guidelines 2% of GST rate is applicable for below 49.00 Lakhs of total sales. please let me know is there any rules and conditions. confirm my 2% GST rate and oblige.
Awaiting for your reply.
Thanks and regards
S.Rajasekaran
9940820115
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impact on GST in cement paint industries upto Rs.49.00 Lakhs sales.
Replies (2)
You can go for composition scheme.. Composition scheme can be opted if u have a turnover of less than 75 lakhs in a preceding year.. But u can't supply your goods in other state after opting for compoaition.. And composition dealers can pay 2% gst on total turnover..
Composition Scheme is not advisable as you will not be able to get ITC on your inputs, input services and capital goods. The same will become your cost.
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