Composition schme under gst
This query is : Resolved
CA Gaurav Ajit Potdar
(Querist)
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.
Devansh Jain
(Expert)
23 June 2017
Composition is applicable for only goods and not services
CA Gaurav Ajit Potdar
(Querist)
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
Message likes :
1 times
Devansh Jain
(Expert)
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...
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Missed uploading GST Invoice
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
