can we opt out of composition scheme
This query is : Resolved
Guest
Guest
(Querist)
23 February 2010
once we register under composition scheme can we opt out of it
CA Gangadhar Mishra
(Expert)
23 February 2010
yes, you can change it by applying to the VAT officer before 15th April.
23 February 2010
As per rule 3(3) of Works Contract (Composition Scheme For Payment of Service Tax)Rules,2007 the option so exercised shall be applicable for the entire works contract and shall not be withdrawn until the completion of the said works contract.
CMA Ramesh Krishnan
(Expert)
23 February 2010
Agreed with Mr.Chakrapani warrier, once we opted for composition scheme, cannot be withdrwan under works contract service
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