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

Amol S Joglekar

Amol S Joglekar (Expert)
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07 August 2017 canteen is run by one of the partners. So, s/he can opt for registration under GST, composition scheme

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Studentsca

Studentsca (Expert)
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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.