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Composition firm for regular tax payer in partnership firm

1148 views 3 replies

We are three partners in a partnership firm. The partnership firm has its own PAN Card and is registered as a REGULAR tax payer in GST,

However, one of the partners wants to simultaneously start a new business as a proprietor.

Can this individual opt for COMPOSITION scheme for his new proprietorship business while continuing as a partner in the partnership firm?

Can this individual opt for UNREGISTERED DEALER scheme for his new proprietorship business while continuing as a partner in the partnership firm?

Please respond to both queries. Its urgent for me.

Replies (3)

Yes

Yes (till basic exemption limit)

GST Registraion is PAN based. So if PAN is different, the business will be treated different.

Individual can get registeration in his own status.

GST Registraion is PAN based. So if PAN is different, the business will be treated different.

Individual can get registeration in his own status.


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