Compositionscheme under GST
Query (Issue) Started By: – Aitha RajyaLakshmi Dated:- 14-4-2017 Last Reply Date:- 5-5-2017 Goods and Services Tax – GST
Got 6 Replies
GST
Sir,
\nWhether the rates prescribed (0.5%, 1%, 2.5%) for the Assesses availing Composition scheme is the final rate taxable or this is only the rates in CGST Bill and the tax rate for levy is to be doubled (CGST+SGST) i.e., 1%, 2%, 5%.
\nReply By Himansu Sha:
\nThe Reply:
\nIt is the final rate.
\nReply By Himansu Sha:
\nThe Reply:
\nOthers experts may also give their views
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nThe rates are including both CGST and SGST.
\nReply By Aitha RajyaLakshmi:
\nThe Reply:
\nNotwithstanding anything to the contrary contained in this Act but subject <\/p>\n
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\nProvided that the Government may, by notification, increase the said limit of fifty lakh rupees to such higher amount, not exceeding one crore rupees, as may be recommended by the Council.
\nReply By MADAN RAHEJA:
\nThe Reply:
\nProvisions contained in CGST Act, 2017 relate only to CGST. As regards SGST, Acts that would be passed by different states would make provisions of CGST Act applicable mutatis mutandis. For example UTGST Act, which is applicable to Union Territories (as good as State), Section 21 states that provisions of CGST Act so far they relate to Composition shall be mutatis mutandis applicable meaning thereby that rates mentioned in CGST Act shall be applicable. In my view composition rates for CGST and SGST wou<\/p>\n
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