Manufacturing & trading both activity
This query is : Open
01 August 2017
If a traders is engaged in a business of manufacturing and trading both can he opt for composition scheme?
For Ex. manufactuirer of sweets and tarding of packed snacks etc.
For Ex. manufactuirer of sweets and tarding of packed snacks etc.
01 August 2017
Yes he can opt for composition scheme. But then he will have to opt for both the businesses even if separate registration have been taken for each business.
01 August 2017
But sir the rate of composition for manufacturer and traders is different in this case under which category will he take registration.
01 August 2017
If both options are not available then you will have to take separate registration.
01 August 2017
Its advisable to take separate registration
01 August 2017
Seperate registration in the form of two business vertices?
01 August 2017
Yes.................
01 August 2017
But what if both the work is done from one and the same place. Because the assessee is a small dealer T/O not exceeding 40 lakhs.
01 August 2017
Yes, you can opt the composition scheme.
01 August 2017
If you dont take separate registration then 2% rate will be applicable on all supplies including trading.
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