Question ID :
32759
Composition scheme
A factory owner is manufacturing furniture as well as Doors/Windows etc for houses and Factories. Can he pay 1% GST on Total turnover
Posted by
Mahesh Kumar
on
Aug 07, 2018
Filed Under
GST
Yes provided TO less than 1.5cr
Posted by
VINAY BHARGAV KUMAR G on
Aug 08, 2018
Answer ID :
71904
in 23rd GST Council Meeting it was decided to reduce rate of composition tax on manufacture. and Notification no. 1/2018 was issued to give effect to the same.
Now Tax on manufacture is half per cent for both CGST and SGST and in total 1%. Further no Tax on Exempted items in case of Composition scheme.
Posted by
CA VIRENDRA K SONI on
Aug 08, 2018
Answer ID :
71911
it may be noted that limit has not been revised yet. maximum limit is 1 crore only.
Posted by
sharad singhal on
Aug 11, 2018