12. Levy and Collection of GST | Composition Scheme under GST, GST Rate under Composition Scheme

[@StudyAtHome]

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[@nripendraku]

1:09:38 Every time I watch GST classes, I enjoy it a lot.thank you sir ❤❤😊😊

[@StudyAtHome]

Glad to hear that! You're welcome! 😊🙌

[@LICBABA-k8y]

Revised this video again..Section 10(1) & 10(2) complete very well n credit goes to my magician teacher Sri Raj Agarwal 🎉❤🎉❤🎉❤

[@StudyAtHome]

Good and thank you so much! 😊

[@reetukumari6398]

Thank you sir apke wajh se hard subject easy lag rhi hai

[@StudyAtHome]

Glad to hear that, keep learning

[@SahilKumar.05]

Such a amazing teacher gst made easy by CA Raj Agarwal sir thank you

[@StudyAtHome]

You're always welcome!

[@anjali9004]

Sir aap gst ke guru h ❤❤❤❤ aap bohot acha pdhate h😊

[@StudyAtHome]

Thankyou

[@VishalKumar-ny9zc]

Last k 10 mint very knowledge for me👌

[@PawanKumar-tv5em]

Brilliant... Teaching.. 🙏🏻🙏🏻🙏🏻🙏🏻

[@jakharmonika8490]

Your teaching way is good

[@StudyAtHome]

Thanks for liking

[@RohitSaw-h8j]

Sir aap diffult part ko vhi aap interesting bana datha hai thanks for better explaination 😅😊😂😁😎

[@StudyAtHome]

Thankyou so much for the feedback

[@Nick-q3o]

Lecture❌ short stories ✅ That's why you r the best ❤️

[@StudyAtHome]

Thanks for the feedback

[@naina5208]

Understood each and everything without getting bored ♥️😌👍

[@StudyAtHome]

Glad to know this

[@varunsingh8820]

52:20 Raj Sir from Varanasi, UP. You definatly got that UP accent :) I am from Kanpur, UP. Thank you for all the videos sir Thank you very much.

[@StudyAtHome]

Thank you for taking the time to leave a comment, it means a lot to me.

[@ramdarashprajapati3261]

Thanks Sir for your nice way of teaching

[@StudyAtHome]

We're so happy to hear that you found value in the video, thank you for your comment.

[@CMBABDULAHAD]

As you said , that to adopt the composition scheme , there is one of many conditions that goods shall be such that is leviable to tax And you also told at the beginning of lecture that in aggregate turnover all supplies are considered i.e exempt supplies.

[@CMBABDULAHAD]

Sir , please clarify the doubt

[@StudyAtHome]

Aggregate turnover include exempt as well as taxable supply but in case your total supply is exempt, registration under GST is not required.

[@rajeevyadav-h5f]

Aap ke padhane ka technique sach much me amazing hai. Mai gst ko bhut details se samjha. Thank you sir

[@StudyAtHome]

You're welcome! Glad you liked it 😊

[@kavitharau]

Sir, Namasthe, Pranaam, Rapt attention of the student you are able to capture for your classes. No unnecessary chit chat. Consistent superb building up of the knowledge. No confusion in the mind of the student. You are a truly seasoned guru, knows very well the psychology of the student. We are grateful to you respected Sir for this glorious service to the student community. Thank you very much, Sir.

[@StudyAtHome]

You are most Welcome dear and thanks for the appreciation

[@soudweepbanerjee4754]

Sir jo apne 10% turnover in case of other services likha hai voh kya same turnover hai as aggregate turnover of preceding year jo section 10(1) mai definition likha hai?

[@StudyAtHome]

Yes

[@sankethengad517]

thank you very much sir

[@StudyAtHome]

Most welcome

[@tapasaranjanbarik3745]

Great job sir love you

[@CMBABDULAHAD]

Sir, as you said in lecture , that TCS is collected only 2 percent by ECO , sir ,in the view of said above if any company sells it final product on which GST is levied like 18 or 28 percent , through Flipkart, then the it is more desirable for a particular company to furnish the 2 percentTCS , instead of 18 or 28 percent.

[@StudyAtHome]

GST will be collected from customer by the seller. Additionally, TCS would be collected by ECO from the seller.

[@cainterstudent5763]

Thank u sir for the lectures

[@StudyAtHome]

It's my pleasure

[@Khushi_55555]

Sir yh part book me to nhi h kya jan 25 ke liy valid he yh vedio???

[@LalitKumar-tq9nh]

sir what is the difference between Exempt supply and Non taxable supply?

[@cainterstudent5763]

❤️❤️❤️❤️❤️thank u sir for GST

[@StudyAtHome]

You're always welcome! 😊

[@Accountstudies]

Thank you sir❤

[@StudyAtHome]

Most welcome

[@Premium._satisfaction]

Super classes

[@StudyAtHome]

😇

[@NirajKumar-fs4wl]

Very nice lecture sir😊. Thank you❤

[@StudyAtHome]

You're welcome! 😊🙌

[@mrcma4757]

Sir ye classes CMA Dec 2020 ke liye relevant hai

[@Ankitjangir86]

Sir if a composition dealer AMIT shifts from composition to regular dealer then ITC on opening stock can be taken, My doubt is if some stock in opening stock was purchased from another composition dealer SURESH then how AMIT can take ITC of that opening stock,because I someone buy goods from composition dealer he can't claim ITC

[@SaheenLaut]

Sir is this playlist applicable for may 2024.?

[@StudyAtHome]

Yes

[@soudweepbanerjee4754]

Sir ek question tha, agar jo goods and services composite dealer bechta hai eco ko aur usme eco ko gst pay karna pare on RCM basis mai aur jab voh goods or services again bechega apna customer ko and jo voh gst collect karega unshe toh kya usme voh itc claim kar payega RCM ka and then pay the remaining balance

[@StudyAtHome]

Yes can claim ITC

[@soudweepbanerjee4754]

Sir, agar during the middle of the year, say, 1/9/20222 composition to regular scheme mein shift karna hoe toh kya usko ITC milega? Aur voh ITC kya calculate hoga in the same way as if he opt from composition to regular scheme at the beginning of the financial year ITC on 1/9/22= Stock as on 31/8/2022*gst rate/100+gst rate - if he have to move to regular scheme on 1/9/22

[@StudyAtHome]

This has been taught in ITC Chapter. What you have written is correct.

[@Vishwatanvi]

Sir kya education par gst h

[@poonamkakani]

thank u thank u thank u thank u thank u thanks a lot sir

[@StudyAtHome]

You are most welcome

[@aashishsharma3212]

Awesome Sir

[@StudyAtHome]

Thank you!

[@JUSTTRADEBRUH]

Composition se regular me aane per jo itc milegi uski journal entry kya hogi.

[@girishbasrani6475]

ITC to purhase

[@abhedkant]

For a composition dealer cannot allowed for inter state supply(Goods) except restaurant & catering services(without wine) 🍷 and some other services are allowed however inter state purchases are allowed.

[@abhedkant]

Who has turn over up to 1.5 CR in previous FY is Eligibile for composition and can opt from 1 Apr of next FY however on which time his turn over crosses 1.5cr he would have to be regular. The applicability of the composition is 1 year and if one is eligible again can opt for the scheme.

[@abhedkant]

One can opt for composition and can not next year if he could not eligible again next year eligible can again opt for the same and so on...

[@abhedkant]

Aggregate turn over is being considered for eligibility of composition scheme.

[@abhedkant]

ITC is not available for a composition dealer.

[@abhedkant]

A composition dealer can not sale non GST items if he wish to sale non GST items he should have to opt only regular dealer.

[@manavkhandelwal5599]

Sir are these lectures ammended enough for cma inter dec 2024..

[@StudyAtHome]

For dec 24 exam watch new GST lectures from this playlist - kzbin.info/aero/PLyY2ccCWylApOM421fFFyIG_pCTAmuLBJ

[@manavkhandelwal5599]

@@StudyAtHome thank you so much sir aapne answer Kiya mai bohut confused thaa,,,,, Sir ek baat or bta dejiye cma inter dec 2024 k liye direct tax ki playlist wahi h naa jisme 202 vedios h,..... Please tell me sir

[@StudyAtHome]

Yes

[@naman6871]

27:52 one doubt here sir, Whether this inter-state supply's restriction is a :- pre requisite for taking composition scheme, or condition that needs to be followed after taking composition scheme, or both ? Thank you

[@StudyAtHome]

To be consider "After taking Composition Scheme"

[@naman6871]

@@StudyAtHome Thanks for the clarification.

[@poojainsha2627]

Hello sir.i HV a doubt. aggregate turnover m aapne non taxable supply bhi likha but kya aggregate m only taxable supplies nhi aati h ? 2.aaone bola ki agr taxable ke sath non taxable supply hogi to composition opt hi nhi kr skte to aggregate m non taxable add hote hi kya composition opt ho payegi? Plz reply

[@StudyAtHome]

1. Taxable plus non taxable, 2. Cannot opt.

[@d1all33]

Sir i have one doubt, If i run petrol pump and i have recieved dealer margin commission for sale of petrol and diesel, will it be taxable under gst? If yes then under what section or provision? I am not paying Gst on said commission reason thereby such commission (not commission actually but only margin for difference in cost and sale price) recieved against non gst items i.e. petrol and diesel. Please clarify... 🙏

[@RohitSaw-h8j]

Sir thanku for explaining management ek friend ko recomend kaya aapka coaching classes for ca CMA and CS classes

[@StudyAtHome]

You're welcome!

[@kashishydvv]

Thankyou so much sir 🙏🏻

[@StudyAtHome]

Most welcome! 😊🙌

[@soudweepbanerjee4754]

Sir, Composition mei kya koi rule hai? Agar hai toh uska video kya apne banaya hai?

[@abhedkant]

50:17

[@sauravrawat5925]

Sir mera ek doubt hai, composition lene ke liye to hm sara turnover add krenge jisme exempted included hoga. But composition lene ke bd exempted vali supplies nhi kr skte hai hm. Am I right Sir? Please reply.

[@girishbasrani6475]

han kyuki wo liable for gst nh hota hn

[@GeetaDevi-om5uj]

Sir main apse puchna chahti hu ki business man ne sections 9 (4) of cgst act 2017 ka oppose kyon kiya tha

[@StudyAtHome]

Businessman ne to GST ka hi appose kia

[@GeetaDevi-om5uj]

@@StudyAtHome nahi specially is section ka "unregistered se purchase par RCM" ka oppose kyon Kiya tha. kyonki business man ko ITC bhi to mil jaati thi to phir oppose kyon Karte the.

[@GeetaDevi-om5uj]

Jaise FCM me ITC mil jaati thi vaise hi RCM me bhi to ITC mil jaati hai to business man ko dikkat Kahan hai.?

[@nripendraku]

❤ Good morning sir ❤

[@StudyAtHome]

Good morning! 😊

[@sauravrawat5925]

Sir ye doubt clear nhi hora hai, agar non gst supplies vala composition opt nahi kr skta to fir aggregate turnover me non gst + taxable turnover kyu lete hai. Agar uska non gst turnover hai to vo to pehle hi opt nahi kar skta hai. Please clear this doubt sir.

[@Shivashakti_forever_]

Same doubt😢

[@vanshgupta6397]

Bro , there is no logic behind this, it's Law. Govt chahte hai jyada s jyada log regular scheme opt kre esliye PAN base turnover count kr rhey hai jisse ki turnover increase ho jaye or supplier regular scheme m aa jaye.

[@Legal_track]

Sir ... could you please answer? I'm getting confused because you are saying sometimes 1.5cr turnover will attract GST and then some time you are saying state's notified 20-40 lakh turnover? Then what is the turnover that we have to pay for

[@StudyAtHome]

20-40 lakh is the limit for GST Registration while 1.5 crore is for composition income.

[@tulsibarai222]

Thank you❤️🙏

[@StudyAtHome]

You're Welcome! 😊🙌

[@Maheshsharma-dk2hs]

Sir agr koi competition delar ka limit 1.5cr par karta hai to wo regular mai switch krta toh kya uska Jo stock remain rhta hai us pr toh wo regular dealer ko gst ka payment kar k laya hoga to kyaa Regular mai aane k baad wo ITC claim kr shkta hai???

[@StudyAtHome]

Yes, he can.

[@soudweepbanerjee4754]

Sir, traders ko to gst pay karna par raha hai apne purchase mai par voh to itc claim nahi kar sakte hai. Sir apne toh yehi bola na? Agar koi composition scheme dealer ,i.e., a trader purchase kare from the manufacturer of pan masala, tobacco, ice cream and other edible ice

[@StudyAtHome]

Yes, composition dealer cannot claim ITC. Par samajhne wali baat ye hai ki, inko apni sale par bhi to full GST nahi dena hota balki sirf 1% dena hota hai.

[@manviverma5553]

Good evening sir,🙏 Sir are these classes aaplicable for november 2023??

[@StudyAtHome]

yes

[@manviverma5553]

@@StudyAtHome thank you soo much sir 🙏

[@soudweepbanerjee4754]

Sir, composition scheme walo jab exempt supply karega tabhi toh usko regular scheme pe jana parega ya voh composition scheme lehi nehi payega at first place but sir agar during the year voh exempt supply kare aur jab voh composition scheme mein register ho at april voh exempt supply k upar itna dyan mein uska nehi hai. I just wanna say that he may not know that he will supply exempt good or services during the year when he opted composition scheme at april. So what will be the answer? Is he eligible to take registration under composition scheme at first place or not?

[@StudyAtHome]

A composition dealer is eligible to take registration under the composition scheme at first place, even if he may not know that he will supply exempt goods or services during the year. However, there are a few restrictions on the types of supplies that a composition dealer can make. For example, composition dealers cannot make interstate supplies, exports, or non-taxable supplies.

[@KeTan0120]

sir applicability of section 10 ke liye book me limit 1.5cr nhi di ..book me limit 50 lakhs ki h to kaunsi leni h hume

[@StudyAtHome]

Goods ke liye 1.5 crore and services ke liye 50 lakhs.

[@tapasaranjanbarik3745]

Thank you so much sir

[@StudyAtHome]

Most welcome

[@luckygoyal8089]

Sir agr koi person inter state taxae supply + intra state non taxable supply krta hai and 1.2 cr uska aggregate turnover ho jata hai to kya vo composition scheme le skta hai ? And jo restrictions hai vo composition scheme lene ke baad vali hai yaa agr ham inter state supply krte honge to hme composition scheme milegii hii nhi???

[@StudyAtHome]

That person cannot take composition scheme

[@siya101]

sir can u make a video on kelkar shah model please.. ur way of explanation is impressive nd i m unable to find any video on kelakr shah model.. plz deliver a lcture on it sir.

[@neerajsharma-ei2jd]

Sir 9(3) of CGST ACT 20 services kis lecture m hai.

[@Ayra-ij9bg]

Did u find it ?

[@Ayra-ij9bg]

Even i didn't see them sec9(3) goods n services list ?

[@Unknown-es3zy]

Hi sir . Sir it is applicable cable for cma inter 2016 syllabus for June 2023 term please reply

[@StudyAtHome]

Mostly things are amended in videos. Although there are 2 to 3 additional changes which are incorporated in book.

[@reetukumari6398]

Sir what is the GST rate if goods supply in intra ut

[@StudyAtHome]

Different rates for different goods

[@shreyavishwakarma9444]

sir , aap varanasi me kaha se ho

[@StudyAtHome]

Study At Home is located at Mahmoorganj

[@RohitKumar-ot3py]

Composition scheme me recipient purchase par tax dega?

[@hariomtiwari239]

Sir pehlaee aap unacademy maee padhaetaee thaee

[@abhedkant]

1:02:39

[@PrinceMishraJourney]

Hello sir, sir I can't tell you how impressed I am with your way of teaching , but sir sometimes dobut keeps happening during the video so how will you talk to me? And how to clear plz sir, plz You cannot call it doubt, but if you want to ask something then how? Again I say plz reply my message I humble request for you plz 🙏

[@StudyAtHome]

Write your doubts in the comment box. Will reply here

[@PrinceMishraJourney]

@@StudyAtHome (1) The question is that , when you cannot levy tax in composition scheme and cannot claim input tax credit, then why is it necessary to take registration in GST? And what is the benefit of taking composition scheme registration in GST? When suppose my annual turnover is less than 20 lakhs. (2)Suppose it is above 20 lakhs, or less than 1.5 cr then it is not mandatory to take it, but if it is taken then what will be the benefit? We are only talking about the composition scheme, not the regular scheme! (3) And sir one doubts is that while explaining this, you told that in the last year, when we come in composition to regular, the government gives us back the credit of March 31, so it is done automatically on the portal? And when we come to regular composition, then ITC will lose ours?As you said that ITC will lapse? 🙏

[@PrinceMishraJourney]

Once again Thank you so much sir, and your team to take my comments when you reply my doubts

[@Itsokay12349]

@@PrinceMishraJourney bhai agar registration nhi hoga aur composition me banda agya aur uska threshold se upr chla gya current me year to registration hoga tbhi to vo regular me shift hojyega

[@Ayra-ij9bg]

42:35

[@nikky7281]

Sir aap unacademy mae padthe ho t shirt unacademy ka pehna hae😂😂❤❤

[@Priyanka-i1432]

Acha ye secret h tshirt ka😅😅😅

[@Gustavo-wt3yx]

Vo isliye hai kyuki u academy uske liye advertisement service Lena hoga...fhokat me as nahi milega

[@pawanarya_accounts]

Kya padha rahe us par dhyan nahi hai , t shirt kyu kala hai , chasma kyu pila hai Padhai par dhyan do ..

[@tapasaranjanbarik3745]

Sir kya 31 ke bad auurr class ayega ya nahinn??

[@StudyAtHome]

There are more lectures to come

[@adisid_]

❤

[@StudyAtHome]

😊🙌

[@villain..3444]

#11/04/23✅

[@aayushagrawal1670]

Thank you sir 🙏🏻

[@StudyAtHome]

Most welcome

[@abhedkant]

50:53