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TMI BlogComposition Scheme in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... Composition Scheme in GST X X X X Extracts X X X X X X X X Extracts X X X X ..... on 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 registered person crosses ₹ 75 lakhs, he wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be become a normal tax payer and file monthly returns and other returns regularly. Thereafter, he will have to maintain complete books of accounts. The person who opts for composition scheme is not eligible for threshold exemption of ₹ 20 lakhs. So he will start paying the amount @ 1% (dealers 2 % (manufaxcturer ) , 5 % for composite supply which is not recoverable from customer. So minim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um limit is from the first day i.e. first transaction/sale/supply. Reply By Kishan Barai: The Reply: Thank You Very Much Sir for an Reply But what is 1%, 2% & 5% at what stage supplier have to pay in composition Scheme & what entry has to made & where ?? Please explain all 3 above rates on composition Scheme Reply By MADAN RAHEJA: The Reply: The practical application of this scheme has been e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xplained 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, pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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% X X X X Extracts X X X X X X X X Extracts X X X X
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