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Showing posts from July, 2017

Points to be considered before opting a composition scheme under GST.

Are you planning to opt for Composition scheme under GST? If yes, please refer the below comparison table. The amount in the table is calculated by assuming 5% GST and different rates of profit. Do check it by substituting your own rate of GST and Profit and then decide which is favorable for you as a businessman. Note: Just as an example I have assumed product price at Rs.100/- and GST rate at 5%. Have shown different calculations on the basis of various profit margins. If profit margin in your product is 2.50% then refer below table: If profit margin in your product is 5.00% then refer below table: If profit margin in your product is 10.00% then refer below table: If profit margin in your product is 20.00% then refer below table: If profit margin in your product is 30.00% then refer below table: If profit margin in your product is 40.00% then refer below table: If profit margin in your product is 50.00% then refer below tab