If a person supplies only taxable services ( not involved in supply of goods then is he eligible to opt for composition scheme under section 10(1) or he is eligible only under alternative composition scheme which talks about preceding year turnover limit of Rs. 50 lakh
Menu
Composition scheme
Replies (2)
Quick Summary
As per proviso under section 10 (1)(c) can supply of services not exceeding 10% of turnover or 5lac whichever is higher.
&
As per sub clause (2A) of Section 10 can supply of services & goods whose Turnover in Preceding year is not more than 50lac .
So if you are engaged in supply of services only then eligible composition scheme prescribed in (2A) of Section 10
&
As per sub clause (2A) of Section 10 can supply of services & goods whose Turnover in Preceding year is not more than 50lac .
So if you are engaged in supply of services only then eligible composition scheme prescribed in (2A) of Section 10
You are eligible under Notification 2/2019 , turnover in the preceding FY is upto Rs. 50 Lacs
Rate under Composition is 6% (CSGT 3% : SGST 3%)
Recent Topics :
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
Related Topics :
CAclubindia
