Composition Levy


Prithvi Singh
watch_later 1 year, 12 months ago

Hello Pulkit Sir

Sir under composition scheme for traders 

there is 1% tax on turnover upto 75 lakhs.

Sir I am a composite dealer and I sale on my grocery shop both type of items i.e. taxable and exempt. then on what amount i will be required to pay tax.

for eg sale of exempt products 40lakh and taxable products sale is 25 lakhs.

 

then what will be tax liability?

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1 Answer

Pulkit Sharma watch_later 1 year, 12 months ago
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If you are selling goods which are not taxable then you cannot avail composition scheme.

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