Anitya ( ) (287 Points)
22 April 2019Hi Members
Please let me know for the following query.
An individual has retail trading business of hardware items (Sales in 2018-19 - Rs. 18 lakhs) and he also earns rental income from commercial property (Rs. 12500 p.m.). Is he eligible to take Composition GSTN? If yes, what rates will apply to his business/income?
Thanks
Padmanathan Kv
(2127 Points)
Replied 22 April 2019
Kutty Dhanush
(other)
(317 Points)
Replied 22 April 2019
Aggregate turnover remains below 20 lakhs. No need of registration at first.
Voluntary registration can be obtained.
Composition scheme rate will be same as 1%, because service supply is less than 10% of aggregate turnover.
Basic condition applies, no interstate outward supply.
Padmanathan Kv
(2127 Points)
Replied 22 April 2019
Sejal Golecha
(49 Points)
Replied 02 May 2019
Sejal Golecha
(49 Points)
Replied 02 May 2019
CAclubindia
