Composition Levy

Prithvi Singh
watch_later 3 years, 2 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?

  • chatComments
1 Answer

Pulkit Sharma watch_later 3 years, 2 months ago

If you are selling goods which are not taxable then you cannot avail composition scheme.

  • chatComments
Did Not get Answer?

Join the largest Taxation Q&A platform on internet and ASK YOUR OWN question.

Ask your Question

You need to be logged in to answer.

Ask Question