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Limitation No.1 | Threshold limit :
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Limitation No.2 | The composite dealer in GST is not permitted to collect tax from the recipient of supplies |
Limitation No.3 | The Composition dealer under GST cannot also avail the credit of input tax paid by him on his inward supplies |
The CGST ACT Provides for an upper limit for composition rate for different categories of a registered person.
Manufacturer | 1% (both CGST and SGST) of the turnover in State or turnover in Union territory. |
Restaurants not serving alcohol | Service provided by Restaurants :
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Other suppliers | 1% of the turnover taxable supplies of goods in State or turnover in Union territory Note: It is to note that the aggregate turnover shall not be leviable to composition rate and the only turnover of taxable supplies shall be leviable to composition levy. |
A composite dealers GST Return comprises mainly of two returns and they are:
Return | Type | Due Date |
FORM GSTR-4 | Quarterly Return | 18th of the month following the end of the quarter instead of any statement of outward or inward supplies |
FORM GSTR-9A | Annual Return | Still, this return is not made available on the GST Network/Portal |
The composite dealer in GST shall not issue a tax invoice and shall only issue a BILL OF SUPPLY containing various details as given below:
a) | Name, address and GSTIN of the supplier |
b) | a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters |
c) | date of its issue |
d) | name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient |
e) | Harmonised System of Nomenclature Code for goods or services |
f) | description of goods or services or both |
g) | value of supply of goods or services or both after considering discount or abatement, if any; and |
h) | a signature or digital signature of the supplier or his authorised representative |
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