The interior designer professional had received a fee of Rs. 24,00,000 / - in the last financial year and has paid regular GST on it @ 18%. (f.y. 2019-20)
Is it possible to go for composition scheme for the current financial year 2020-21?
& he service provide in only maharashtra.
Menu
Interior designer
Replies (4)
Quick Summary
Possible to file options under section 10 of the GST Act
Yes you can opt for COMPOSITION SCHEME under Section 10 of the CGST Act 2017 for this Financial Year i.e. 2020-21.
As per Notification No. 2/2019 - Central Tax ( Rate ), dated 07th March 2019, Service Providers having Aggregate Turnover upto Rs. 50 lakhs in the preceding financial year can opt for a Special Composition Scheme and pay GST @ 6% [ CGST @ 3% + SGST @ 3% ] w.e.f. 01/04/2019.
Since your Aggregate Turnover is within the turnover threshold limit ( Rs. 24 lakhs ), you can opt for Composition Scheme for this year.
Note that the last date to opt for Composition Scheme for the FY 2020-21 i.e. to file FORM GST CMP-02 has been extended to 30.06.2020 ( 30th June 2020 ) vide Notification No. 30/2020 - Central Tax, dated 03.04.2020.
Regards,
Shivam RC.
As per Notification No. 2/2019 - Central Tax ( Rate ), dated 07th March 2019, Service Providers having Aggregate Turnover upto Rs. 50 lakhs in the preceding financial year can opt for a Special Composition Scheme and pay GST @ 6% [ CGST @ 3% + SGST @ 3% ] w.e.f. 01/04/2019.
Since your Aggregate Turnover is within the turnover threshold limit ( Rs. 24 lakhs ), you can opt for Composition Scheme for this year.
Note that the last date to opt for Composition Scheme for the FY 2020-21 i.e. to file FORM GST CMP-02 has been extended to 30.06.2020 ( 30th June 2020 ) vide Notification No. 30/2020 - Central Tax, dated 03.04.2020.
Regards,
Shivam RC.
Thank you
Your Most Welcome @ Ganesh Sir...🙏🙏🙏
Recent Topics :
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
- Penalty & late fee for late ITR filing
- Business discontinued as Government took possessio
Related Topics :
CAclubindia
