Choose GST Registration Type Based on Profit Margin. GST Registration is Expected to be roll out from 1st July 2017 and GST Migration process is already started. Recently on 30th April 2017 GST Registration is stopped and now GST registration will be reopen from 1st June 2017 to 15th June 2017. If you are a small dealer and your total taxable supply of goods is under Rs.50 lakh per annum. Then you have to assure yourself about your Profit Margin. In this article we try to provide complete information regarding How to choose GST Registration Type i.e Composition Scheme or Normal Registration based on your Business Profit Margin..check detailed analysis from below…
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Choose GST Registration Type Based on Profit Margin
Let assume your turnover is Rs. 40 lakh p.a.
E.g.1 : Suppose your profit margin is 6%
E.g.2 : Suppose your profit margin is 4%
- If your profit margin is higher than 6% then benefits is more in Composite Scheme.* If your profit margin is less than 6% then benefits is more in Normal Scheme.
Author – Manish K. Singhania
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Email : singhaniakol@gmail.com
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