PRINSA PRAJAPATI 17 August 2019
1. if doctor is running homeopathic pharmacy business nd also providing doctor service. For both business nd profession maintaining seperate books of account, then
- Can he opt for composition scheme? and if yes, then
- what is rate under composition? nd - on which amount gst is payable? whether only on pharmacy income or also on doctor service income which is exempt income
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Pankaj Rawat (GST Practitioner) 18 August 2019
Medicine/pharmacy income is Taxable in GST, but doctor consultancy services are exempted in term of notification 12/2017 CT (R) .
Now whether you can opt for Composition scheme or not.....
1. As per Notification 14/2019 CT .& Amendment act 31,2018, the turnover in preceding FY is less than 1.5 & can supply services upto 10% of turnover or 5lac whichever is Higher. Rate of tax is 1% on taxable turnover.
2. As per Notification 2/2019 CT (R) : the per whose Aggregate turnover in preceding FY is 50lac or below can apply for Composition scheme by paying 6% tax on taxable supply & can supply goods or services or both.
Hence can choose from above 2option .
Note : ITC is not available in both the condition