Question9:

IN COMPOSITION TAX RATE APLICABLE 1% ON TAXABLE SALES IS EFFECTIVE FROM DATE ? PL. PROVIDE NOTIFICATION

Answer:

 In Composition Scheme, Traders are  required to pay tax @ 1% (CGST+SGST) of taxable supplies of goods only w.e.f 01.01.2018 as per Notification No. 08/2017-Central Tax as amended  vide  Notification No. 01/2018- Central Tax ,Dt. 01.01.2018.

Amended Notification 08/2017 -central tax and Notification 01/2018 - central tax , dt. 01.01.2018 are attached here with.(REPLY dt. 20/1/2018)