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Composite scheme

Shunaiza Shaikh (28 Points)

28 January 2021

PS laser cutting business can option for composite scheme

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5 Replies

prasad Nilugal (3914 Points)
Replied 28 January 2021

Are you making any Interstate Supply ?.

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Shunaiza Shaikh (28 Points)
Replied 28 January 2021

Yes i want to know

prasad Nilugal (3914 Points)
Replied 28 January 2021

If you making sale out of state or Interstate then composition scheme is not available ,as per notification 2 dated 7/3/2019 .

Shunaiza Shaikh (28 Points)
Replied 28 January 2021

Within state sells?

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 28 January 2021

Yes you can opt for composition.

As you are providing services , In term of Section 10(2A) of CGST Act you can opt for composition scheme if your aggregate turnover in Preceding FY does not exceed 50lac & reguired to Pay GST @ 6% on turnover without ITC .