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Composition Scheme for Builders /Devloper

02 February 2021

One of my client is Having turnover below 1.5 crore int the F.Y 2020-21 and want take benefit of said scheme. please brief me in details...

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3 Replies

Sumit Shukla (378 Points)
Replied 02 February 2021

Builder is a service provider can't avail composition scheme

Shivam RC (Student) (23683 Points)
Replied 02 February 2021

If his Aggregate Turnover is upto Rs. 50 lakhs, then your client can opt for Composition Scheme U/s 10 of the CGST Act 2017 and pay GST @ 6% ( 3% under CGST + 3% under SGST ) out of his own pocket.

Service Providers having aggregate turnover upto Rs. 50 lakhs in the preceding financial year are eligible to opt for Composition Scheme w.e.f 01/04/2019 as notified vide Notification No. 02/2019 - Central Tax ( Rate ), dated 07th March 2019.