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Tax calculation under composition scheme

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35 Points Posted on 26 July 2017
What is the tax liability for a composite dealer when supplying tax free or taxable items or both.
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On 26 July 2017 at 18:46 Report
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"Do the Right Thing...!!!"
128147 Points Posted on 26 July 2017
If tax free item, He don't want pay any Tax except RCM.

If taxable supply he ll be pay Tax on his T/O.

If taxable and Tax free supplies then he ll be pay Tax his turn over (Taxable + Tax free = Turn Over)
463 Reply
On 26 July 2017 at 18:51
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SERVICE
1465 Points Posted on 26 July 2017
tax on only taXable item, please mention your status like manufactuet, whole seller or retaile
4 Reply
On 26 July 2017 at 18:53
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128147 Points Posted on 26 July 2017
May be anyone....
Stand above reply.....
463 Reply
On 26 July 2017 at 18:57
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Proprietor
4869 Points Posted on 26 July 2017
1% for traders and 2% for manufacturer on his total sales/ outward supplies.
18 Reply
On 26 July 2017 at 18:58
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Proprietor
4869 Points Posted on 26 July 2017
rcm applicable also
18 Reply
On 26 July 2017 at 18:58
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128147 Points Posted on 26 July 2017
RCM can't be calculated in T/O....
463 Reply
On 26 July 2017 at 18:59
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35 Points Posted on 26 July 2017
Retailers
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On 26 July 2017 at 18:59
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128147 Points Posted on 26 July 2017
Dear Nishant.,
Any business you calculate tax is above said way. RCM is not in TO. Bcoz, That is inward supplies not outward......
463 Reply
On 26 July 2017 at 19:02
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35 Points Posted on 26 July 2017
A retailer supplied goods of Rs 100000/-(including rs 70000/- taxable goods, Rs. 30000/-
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On 26 July 2017 at 19:03
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128147 Points Posted on 26 July 2017
he calculate tax on 1lakh....
463 Reply
On 26 July 2017 at 19:06
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35 Points Posted on 26 July 2017
A retailer supplied goods of Rs 100000/-(including rs 70000/- of taxable goods, Rs. 30000/- of tax free goods)

So how much a retailer need to pay in account of tax @ 1%(.5% cgst +. 5% sgst)
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On 26 July 2017 at 19:06
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128147 Points Posted on 26 July 2017
Rs. 100000*1%=1000.
500 + 500
463 Reply
On 26 July 2017 at 19:08
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Properitro
34 Points Posted on 26 July 2017
As per Clause (a), Sub Sec 2 of Sec 10 person engaged in making any supply of goods which is not liable to tax under GST Act is not eligible to opt for composition scheme.
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On 26 July 2017 at 23:01


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