Goods and Services Tax – GST – By: – sunil kumar Gupta – Dated:- 1-7-2017 – Comparision of Normal Dealer & Composition Dealer Under GST NORMAL REGISTERED DEALER 5% 12% 18% 28% COLLECTED FROM CUTOMER 1,00,000.00 1,00,000.00 1,00,000.00 1,00,000.00 GST 4,761.90 10,714.29 15,254.24 21,875.00 (A) SELLING PRICE 95,238.10 89,285.71 84,745.76 78,125.00 (B) PURCHASE PRICE 70,000.00 70,000.00 70,000.00 70,000.00 GST PAID ON PURCHASE 3,500.00 8,400.00 12,600.00 19,600.00 NET AMOUNT PAID 73,500.00 78,400.00 82,600.00 89,600.00 (A-B) NET INCOME 25,238.10 19,285.71 14,745.76 8,125.00 COMPOSITION DEALER 5% 12% 18% 28% COLLECTED FROM CUTOMER 1,00,000.00 1,00,000.00 1,00,000.00 1,00,000.00 GST@1% (to be borne by seller) 990.10 990.10 990.10 990.10 (A)
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3 Traders are to pay tax @0.5% CGST, 0.5% SGST . 4 Purchase from unregistered dealers can be made upto ₹ 5000/- per day in aggregate without any liability to be registered. 5 A dealer registered under composition scheme is not required to maintain detailed records as in the case of a normal taxpayer. 6 A Composition Dealer is not allowed to avail input tax credit of GST paid to their supplier. 7 Since a Composition Dealer is not allowed to avail input tax credit, such a dealer cannot issue a tax invoice as well. A buyer from composition dealer will not be able to claim input tax on such goods. 8 A Composition Dealer is not allowed to collect composition tax from the buyer. 9 Any dealer whose aggregate turnover in a financial year does
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