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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 ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 will 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 per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... son 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 minimum 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... %, 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 explained in FAQ on composition levy at CBEC website. Please visit - cbec.gov.in- home - GST - my GST for this purpose. - Reply By MARIAPPAN GOVINDARA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... JAN - 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. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny other supplier eligible for composition of levy - CGST 0.5% + SGST 0.5% = 1% - Composition Scheme in GST - Query Started By: - Kishan Barai Dated:- 8-7-2017 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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