A registered dealer
some period in composite scheme
some period in regular scheme
department scrutiny of returns after some difference turnover found in composite scheme and some difference turnover found .
question:
difference turnover tax pay on composite scheme rate(1 percentage only) or regular scheme rate (commodity rate example:12,5 ,18 precentage)or two scheme rates applicable
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Tax applicable on composite rate or regular scheme rate
Replies (3)
Quick Summary
Depends upon the date on which turnover varied. It can be checked through the returns filed and the ITC availed.
If nothing clarified, department will charge it at higher rate.
The rate would depend on whether you were a composition tax payer or a regular tax payer in that particular month.
Yes agreed.
Tax is livable as per the rate applicable to you.
Tax is livable as per the rate applicable to you.
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