Composition Scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 January 2011
My client dealer is in kirana business from last 2 year by opting composition scheme.
During f. y. 2009-10 he started steel business in feb 2010 by applying regular scheme, for such he was made such application to sales tax dept in feb. 2010
Steel turn over is Rs. 14 cores
Now my quarry is can I opted two different schemes for two different businesses by same proprietor in same firm. Or I can opt composition scheme up to 50 lacs as per vat act and then regular scheme.
Thanking you in advance.
During f. y. 2009-10 he started steel business in feb 2010 by applying regular scheme, for such he was made such application to sales tax dept in feb. 2010
Steel turn over is Rs. 14 cores
Now my quarry is can I opted two different schemes for two different businesses by same proprietor in same firm. Or I can opt composition scheme up to 50 lacs as per vat act and then regular scheme.
Thanking you in advance.
Sunil Arora Advocate
(Expert)
03 February 2011
Under VAT System Taxable Person should be allocated only one VAT no.for all businesses done by him. In other words a person cannot hold two VAT No at a time.
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