One of person sales of iron goods and sale of service of repairs of iron goods like welding etc
Person composite scheme 1%tax rate eligible or not.
Menu
Composite dealer
Replies (3)
Quick Summary
A taxpayer whose turnover is below Rs 1.5 crore can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75 lakh.
As per the CGST (Amendment) Act, 2018, a composition dealer can also supply services to an extent of ten percent of turnover, or Rs.5 lakhs, whichever is higher. This amendment will be applicable from the 1st of Feb, 2019
Yes Sir it is possible, provided the Supply of Services ( Repair Services of Iron / Welding ) is within the limit prescribed ( i.e. 10% of your Aggregate Turnover or Rs. 5 lakhs, whichever is "HIGHER." ).
Earlier in GST, for Composition Scheme person should not be providing any service
but now with service Composition Scheme is still available but
As per the CGST (Amendment) Act, 2018, a manufacturer or trader can now also supply services to an extent of ten percent of turnover, or Rs.5 lakhs, whichever is higher. This amendment will be applicable from the 1st of Feb, 2019.
but now with service Composition Scheme is still available but
As per the CGST (Amendment) Act, 2018, a manufacturer or trader can now also supply services to an extent of ten percent of turnover, or Rs.5 lakhs, whichever is higher. This amendment will be applicable from the 1st of Feb, 2019.
Recent Topics :
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
- Bank balance in ITR-3
- INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
- Tempsens Instruments IPO GMP Allotment Listing dat
- Upload Type - Correction. Not showing in TDS filli
- Partnership tax audit query
- ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
- Form 146 foreign remittance us citizen
Related Topics :
CAclubindia
