Composite scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2017
DEAR EXPERTS
A PARTNERSHIP FIRM IS RUNNING A CINEMA THEATRE AND IS REGISTERED UNDER GST. ONE OF ITS PARTNER HAS TAKEN THE CANTEEN ON RENT AND WANTS TO REGISTER UNDER GST UNDER COMPOSITE SCHEME FOR HIS CANTEEN INCOME
IS THIS ALLOWABLE OR THE CANTEEN INCOME HAS TO BE CLUBBED WITH FIRM'S INCOME ONLY
A PARTNERSHIP FIRM IS RUNNING A CINEMA THEATRE AND IS REGISTERED UNDER GST. ONE OF ITS PARTNER HAS TAKEN THE CANTEEN ON RENT AND WANTS TO REGISTER UNDER GST UNDER COMPOSITE SCHEME FOR HIS CANTEEN INCOME
IS THIS ALLOWABLE OR THE CANTEEN INCOME HAS TO BE CLUBBED WITH FIRM'S INCOME ONLY
Amol S Joglekar
(Expert)
07 August 2017
canteen is run by one of the partners. So, s/he can opt for registration under GST, composition scheme
Message likes :
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Studentsca
(Expert)
07 August 2017
Canteen can be run by the partner in his personal capacity.
It will be considered his business income.
Income from canteen will not be clubbed with firm's income.
The GST Composition rate for the Canteen would be 5% of the aggregate turnover.
It will be considered his business income.
Income from canteen will not be clubbed with firm's income.
The GST Composition rate for the Canteen would be 5% of the aggregate turnover.
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