Find
Traders under composition pay 1 percent (0.5 percent CGST and 0.5 percent SGST) on turnover of taxable goods in the State. Exempt items are left out for traders.
GST
Calculating tax for CMP-08 as a trader
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
Rule 7, CGST Rules 2017; Sec 10(1), CGST Act 2017
Analysis
If ₹12 lakh includes ₹2 lakh of exempt items like fresh vegetables or loose grains, tax is 1 percent of ₹10 lakh, which is ₹10,000: ₹5,000 CGST and ₹5,000 SGST. Keep the exempt and taxable sales separate in your daily record. For manufacturers, the 1 percent applies on turnover in the State. Check the latest rule wording for your category.
Close
- Separate taxable and exempt sales for the quarter.
- Apply 1 percent on taxable sales.
- Split equally into CGST and SGST.
- Enter in CMP-08 and pay in cash.
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.