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Interior designer

ganesh (proprietor) (45 Points)

05 June 2020

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.

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4 Replies

KRISSHNAN KP (4215 Points)
Replied 05 June 2020

Possible to file options under section 10 of the GST Act

Shivam RC (Student) (23683 Points)
Replied 05 June 2020

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.

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