Composition Scheme
Avinash Bhagat (Student CA CPT ) (53 Points)
14 June 2017
Why Service providers are not allowed to opt composition scheme?
9 Replies
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 14 June 2017
professionals under service provider can opt for composition us 44ADA. by showing profit more than 50%
Avinash Bhagat
(Student CA CPT )
(53 Points)
Replied 15 June 2017
I think 44ADA deals with Presumptive Income from Professionals
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 15 June 2017
that is the composition scheme under income tax
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 15 June 2017
Ms. Preeti,
I think Mr. Avinas placed this question is for GST not Income tax.
Section 44ADA is the provision about presumtive income declaration for professional under Income Tax ACT to declare 50% gain on gross receipts.
There is no composition scheme under Income Tax Act.
The question should be "Why service provider not eligible for composition Scheme under GST" ---- Am I right Mr. Avinas.....
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 15 June 2017
Advice you to place question always in full detaits to aviod misread....
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 15 June 2017
yes avinash sorry for misinterpretation.
for services they covered restaurant services.they want to make it a destination based tax. if they provide composition for all then cascading of tax will be there, tax could not move freely. thats y this is not a facility for sp
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