Menu
Composition scheme applicability
Is a tyre retreading concern eligible for composition scheme u/s 10, it is a works contract under VAT
Replies (3)
Ans. Businesses dealing only in goods can only opt for composition scheme. Services providers have been kept outside the scope of this scheme.This holds true if your annual turnover is below Rs 50 Lakhs.any business concern having turnover below 50 lakhs can opt for compensation scheme under GST.
Ans. Businesses dealing only in goods can only opt for composition scheme. Services providers have been kept outside the scope of this scheme.This holds true if your annual turnover is below Rs 50 Lakhs.any business concern having turnover below 50 lakhs can opt for compensation scheme under GST.
i think it is for pure service concerns not for works contract it seems, property in goods involved, turnover limit is 75 lacs to be eligible for composition scheme,
Recent Topic
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
Related Topics
CAclubindia
