Questions

What is the GST rate for sweets?

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What is the GST rate for sweets?

15 July 2017 5\% GST on all sorts of sweets, except the chocolate-flavoured ones, where the rate is fixed at 28\%.

Can sweet shop opt for composition scheme?

According to an Authority of Advance Ruling (AAR), if in case a sweet shop runs a restaurant in the same premise that there will be 5 percent GST applicable on all the items. These restaurants have an option to opt for composition scheme if the turnover is below 1 crore in an F.Y.

Is GST is applicable to sweet shop?

Yes sweet shop is covered under 5\% GST and they can claim ITC but since their main ingredient are exempt from tax or they purchase from unorganised sector they are not able to claim any credit and because of which prices of their sweets is increasing. – There are only two rates in sweets category i.e. 5\% and 18\%.

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Can composition dealer collect GST?

Can composition dealers avail Input Tax Credit? No, a composition dealer is not allowed to avail input tax credit of GST on purchases.

Is sugar exempt from GST?

Sugar and sugar confectioneries are taxable under GST, except for cane jaggery. Beet sugar, cane sugar, palmyra sugar and Khansari sugar attract GST at the rate of 5\% of taxable value. Refined sugar containing added flavouring or colouring matter and sugar cubes attract 18\% GST.

Do you want to opt composition scheme?

To opt for composition scheme a taxpayer has to file GST CMP-02 with the government. This can be done online by logging into the GST Portal. This intimation should be given at the beginning of every Financial Year by a dealer wanting to opt for Composition Scheme.

Who can opt for composition scheme?

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*.

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Can I change composition to regular GST?

Taxpayer can confirm the change by visiting profile on GST Portal. Go to the section ‘Taxpayer Type’. The status changes from ‘Composition’ to ‘Regular’. The taxpayer will now have access to all returns applicable to regular taxpayers.

What is the GST on honey?

5\%
HSN Code 0409

HS Code Description GST\%
040900 Natural honey 5\%
04090000 NATURAL HONEY 5\%