Composition schme under gst
This query is : Resolved
23 June 2017
Hello all,
Facts:
One of our client is into business of trading of Bike accessories, Bike servicing & Bike customization business. He is currently not registered under MVAT Act. His Expected turnover would be around 10 to 20 lacs in the current year.
Query:
Can we get him registered under GST by opting Composition Schme. Wether Servicing & customization of bikes an eligibe business for Composition Schme.
Facts:
One of our client is into business of trading of Bike accessories, Bike servicing & Bike customization business. He is currently not registered under MVAT Act. His Expected turnover would be around 10 to 20 lacs in the current year.
Query:
Can we get him registered under GST by opting Composition Schme. Wether Servicing & customization of bikes an eligibe business for Composition Schme.
23 June 2017
Composition is applicable for only goods and not services
24 June 2017
But if suppose out of total turnover of 10 lacs only 1 lac related to servicing of Bikes, then also i need to take normal registration? or can i opt for composition
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24 June 2017
Composition Scheme is PAN based. So you cannot have scheme just for one type of business/Transaction under Composition scheme only..
Only way out for you is to get normal registration for whole business..or seperate service n goods business under different Pans and then opt composition on goods...
Only way out for you is to get normal registration for whole business..or seperate service n goods business under different Pans and then opt composition on goods...
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