Kollipara sundaraiah asked 4 years ago
Shown in exempted turnover in composite return
Dealer composite scheme registered sales of medicines turnover every quarter composite return CMP-08 filed. dealer another income from clinic rs:15 lacs.
Question:
Dealer exempted turnover rs:15 lacs shown in composite return compulsory.
Answer the question
In the case of Composition Dealer in Composite Return total turnover including exempted supplies has to be shown and accordingly tax liability has to be calculated.You have to show exempted turnover of Rs 15 Lakhs in composite return with taxable turnover.