Composition Scheme in GST
Query (Issue) Started By: – Kishan Barai Dated:- 8-7-2017 Last Reply Date:- 13-7-2017 Goods and Services Tax – GST
Got 6 Replies
GST
What about minimum turn over requirement in GST for Composition Scheme ??
How to Practical apply for it , please guide step by step for gst.gov.in
Reply By KASTURI SETHI:
The Reply:
Sh.Kishan Barai Ji,
If any registered person opts for Composition Scheme, that person will pay GST from Re.one.
Regarding step by step process to be followed, it is easily available on GST sites.
Reply By Kishan Barai:
The Reply:
Thank You Sir Ji ,
But what is Min Max turnover limit for it for sale of Goods ??
Reply By KASTURI SETHI:
The Reply:
Maximum limit ₹ 75 lakhs. If the
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ition Scheme
Reply By MADAN RAHEJA:
The Reply:
The practical application of this scheme has been explained in FAQ on composition levy at CBEC website. Please visit – cbec.gov.in- home – GST – my GST for this purpose.
Reply By MARIAPPAN GOVINDARAJAN:
The Reply:
Section 10 of the CGST Act and SGST ACTprovide that the person opt for composition scheme shall pay as detailed below-
1. Manufacturers other than manufactures of such goods as may be notified by the government (ice cream, tobacco, pan masala, now notified by the Government) – CGST 1% + SGST 1% = 2%;
2. Restaurant service provider only – CGST 2.5% + SGST 2.5% = Total 5%;
3. Any other supplier eligible for composition of levy – CGST 0.5% + SGST 0.5% = 1%
Discussion Forum – K
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