Rate of Composition - Coconut oil Manufacturing

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33 Points Posted on 21 February 2021
what is the rate of composition
manufacturer of coconut oil whose turnover is less than 1.5 Cr
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On 21 February 2021 at 16:53 Report
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This discussion clarifies the composition scheme rate for coconut oil manufacturers whose annual turnover is less than ₹1.5 crore. The applicable rate is 1% of turnover (0.5% CGST and 0.5% SGST), as per a government notification. It's also noted that businesses opting for the composition scheme cannot engage in inter-state supplies.

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Tax consultant
552 Points Posted on 21 February 2021
1% w/o itc
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On 21 February 2021 at 17:24
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3924 Points Posted on 21 February 2021
As per Notification 50 dated 24/6/2020 , For Manufacturers , other than manufacturers of such goods as may be notified by the GOVT rate for composition is one and half (1/2 %) of the turnover .
Composition delar can not make inter-State supply .
please confirm with others also
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On 21 February 2021 at 18:57
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Chartered Accountant
86505 Points Posted on 22 February 2021
Rate for manufacturer in Composition scheme is 1%
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On 22 February 2021 at 08:34
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615 Points Posted on 22 February 2021
The rate for CGST is 1/2% and for SGST is 1/2%.
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On 22 February 2021 at 16:15
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3924 Points Posted on 22 February 2021
Yes, Dear Jamil Ahmed you are correct , Confused because 1/2% not in GST Act , but in notification .
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On 22 February 2021 at 17:15

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