sir, client running medical shop trader file quarterly return composition scheme 1 percent. Last year turnover 22 lakhs. now he start new business I.e service provider( ac, fridge, tv repair service).
now both goods and services are avail composition scheme?
what rate for medical shop and service ?
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Composition scheme
Replies (5)
Quick Summary
Yes he can
No refer section 10(2) a service provider can't claim composition scheme
Why service provider not claim composition scheme?
1.4.19 notification say opt to service provider
1.4.19 notification say opt to service provider
Service provider may opt for the COMPOSITION SCHEME under Notification No 2/2019 , if turnover is upto Rs. 50 lacs
Rate 6% (CGST 3% : SGST 3%)
Medical Shop under Sec. 10 Rate 1% (CGST 0.5% : SGST 0.5%)
However , he can provide service along with such supplies up to 10 % of turnover in state in the preceding FY or Rs. 5 lcas whichever is higher .
Otherwise , may opt under NN 2/2019 Rate 6%
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