Composition Scheme
This query is : Resolved
05 November 2019
Dear Experts
With effect from Feb 2019, a trader under composition scheme, can also supply services upto 10% of total turnover or 5 lakhs whichever is higher. Whether the following would be conisdered to calculate the 5 lakhs limit
1) Director salary
2) Interest and salary from partnership firm
3) Rent of house for residential purpsoe.
Please clarify
With effect from Feb 2019, a trader under composition scheme, can also supply services upto 10% of total turnover or 5 lakhs whichever is higher. Whether the following would be conisdered to calculate the 5 lakhs limit
1) Director salary
2) Interest and salary from partnership firm
3) Rent of house for residential purpsoe.
Please clarify
Message likes :
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CA R SEETHARAMAN
(Expert)
05 November 2019
1 GST payable under RCM not considered.
2 GST not applicable not considered.
3 Exempt from GST not considered
2 GST not applicable not considered.
3 Exempt from GST not considered
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