Mumbai Soft Drink is a trader owned by Vineet & Co., a partnership firm selling soft drink. They desire to opt. for composition scheme. What is the rate of tax applicable to them under composition scheme ?

CS Executive · Tax Laws and Practice · PYQS · December 2019
Mumbai Soft Drink is a trader owned by Vineet & Co., a partnership firm selling soft drink. They desire to opt. for composition scheme. What is the rate of tax applicable to them under composition scheme ?
(A) 0.5%
(B) 5%
(C) 1%
(D) 2.5%

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: GST

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