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Composition scheme


PRINSA PRAJAPATI   17 August 2019

PRINSA PRAJAPATI

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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

Pankaj Rawat
GST Practitioner 
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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

2.

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Shivam RC (Student)     18 August 2019

Shivam RC
Student 
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You can opt for Composition Scheme for Homeopathic Pharmacy Business and pay 1% GST on your Taxable Turnover.

Note that you cannot collect GST from the customers.

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