1.jpg

 

NORMAL  DEALER

COMPOSITION DEALER

They calculate GST Payable by deducting

OUTPUT GST

-INPUT GST

They calculate GST Payable by Paying

OUTPUT GST

At lower rate

(No Input taken)

They file Monthly Returns(GSTR3B, GSTR1, 2,3 )

+

Annual Returns

(12*2 +1=25 Returns in One Year)

They file Quarterly Returns(GSTR4)

+

Annual Returns

(1*4 +1=5 Returns in One Year)

They can make Interstate Sales as well as local Sales

They cannot make Interstate Sales. 

They can only sell within state

Higher Rate of tax is applicable

(5%,12%,18%,28%)

Rates of tax are lower

For Traders 1%

For Manufacturers  2% 1% from 1 jan 2018

For Restaurants 5%

For Other Services N/A0

It is applicable for large assesses having turnover >1.5 CRORE

If turnover less than 1.5 crores,still Normal scheme can be chosen

It is applicable for small assesses having turnover upto 1.5 CRORE in Previous Year

 

Return to be filed.jpg

  1. Taxation for CA, CS, CMA Bcom M Com Exams May - June 2018
  2. GST for Exams
Ask Download

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .