Can I get composition scheme

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94 Points Posted on 27 March 2024
if I am getting rent on property and a lodge turnover below 40 lac.
can I get composition scheme with tax rate 6%..
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On 27 March 2024 at 21:37 Report
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Quick Summary
If you receive rental income from property and your turnover is below ₹40 lakh, you may be eligible for the GST composition scheme. This scheme allows for a reduced tax rate of 6%. However, businesses involved in selling or manufacturing alcohol are disqualified. Service providers can opt for the composition scheme up to ₹50 lakh turnover.

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Profession
28271 Points Posted on 27 March 2024
Why you want to apply for gst registration???
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On 27 March 2024 at 22:38
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12 Points Posted on 28 March 2024
Yes, you can opt for the composition scheme as per Section 10(2A) of the CGST Act, 2017.
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On 28 March 2024 at 01:10
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Finance
4592 Points Posted on 28 March 2024

Alcohol selling and manufacturing is disqualified 

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On 28 March 2024 at 15:17
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M Com FCS LLB M-AIMA
14046 Points Posted on 01 April 2024

Upto Rs 50 lac compositions scheme for service providers can be opted.

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On 01 April 2024 at 15:13

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