Composition scheme applicability
This query is : Resolved
Jaswinder singh
(Querist)
21 November 2017
Sir/madam,
Is composition scheme of GST applicable to both retail trader (goods) and service provider?
Is composition scheme of GST applicable to both retail trader (goods) and service provider?
22 November 2017
A taxpayer whose turnover is below Rs 1,5 crore* can opt in for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75* lakh.
The following people cannot opt for the scheme:
Supplier of services other than restaurant related services
Manufacturer of ice cream, pan masala, or tobacco
Casual taxable person or a non-resident taxable person
Businesses which supply goods through an e-commerce operator
w.e.f. from 23rd GST Meeting:
Taxpayers registered under the GST Composition Scheme can now supply services with a taxable value of upto Rs.5 lakhs per annum
Those supplying goods and services (services not exceeding Rs 5 lakhs in total) eligible for compositions scheme.
A taxpayer whose turnover is below Rs 1,5 crore* can opt in for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75* lakh.
The following people cannot opt for the scheme:
Supplier of services other than restaurant related services
Manufacturer of ice cream, pan masala, or tobacco
Casual taxable person or a non-resident taxable person
Businesses which supply goods through an e-commerce operator
w.e.f. from 23rd GST Meeting:
Taxpayers registered under the GST Composition Scheme can now supply services with a taxable value of upto Rs.5 lakhs per annum
Those supplying goods and services (services not exceeding Rs 5 lakhs in total) eligible for compositions scheme.
Message likes :
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Jaswinder singh
(Querist)
22 November 2017
okkk sir thank you
Jaswinder singh
(Querist)
22 November 2017
means retail trader (goods) opt for composition only if the turnover is less than 5 lakhs p.a?????
22 November 2017
Yes I agreed to Mr Amitav....
Yes... The service value less than 5lakh applicable.
23 November 2017
But the notification for the same is still not issued.
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