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Composite Scheme for Professional Consultant
Is Composition Scheme allowed for Financial Consultant.
Replies (3)
No. Composition scheme not allowed for financial consultant.
Who cannot opt for Composition Scheme
The following people cannot opt for the scheme:
Taxpayer supplying exempt supplies.
Supplier of services other than restaurant related services
Manufacturer of ice cream, pan masala, or tobacco
Casual taxable person or a non-resident taxable person
Businesses which supply goods through an e-commerce operator
Who cannot opt for Composition Scheme
The following people cannot opt for the scheme:
Taxpayer supplying exempt supplies.
Supplier of services other than restaurant related services
Manufacturer of ice cream, pan masala, or tobacco
Casual taxable person or a non-resident taxable person
Businesses which supply goods through an e-commerce operator
No other service provider other than restaurant services can opt for composition scheme. So a financial consultant cannot opt for composition scheme
I am running a printing press. I have done my GST registration as a composite scheme, Now it has been automatically converted as a regular tax payer because we failed to do CMP 02. Now can anyone help us to go back again for composite tax payer ?
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