Kindly if someone could provide a clarity on the below query.
To my knowledge, in composition scheme, only supply of goods can be provided and under service s only restaurant services can be provided.
is there any update/notification/circular which allows other service such as renting of immovable property etc, which also can be provided to a certain limit ?
Thanks in advance
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Is there any update/notification/circular which allows other service
Replies (1)
Yes. Composition scheme for SERVICES has been newly introduced by N/N 2/2019 dated 7/3/2019. This Scheme has following main points:
1) This is effective from 1st April, 2019.
2) Supplier may be supplying ANY service but not restaurant or catering services as this is already covered in Section 10 scheme.
3) Aggregate Turnover limit is 50 lakhs.
4) Composition GST Rate is 6%. (i.e. CGST 3% & SGST 3%).
1) This is effective from 1st April, 2019.
2) Supplier may be supplying ANY service but not restaurant or catering services as this is already covered in Section 10 scheme.
3) Aggregate Turnover limit is 50 lakhs.
4) Composition GST Rate is 6%. (i.e. CGST 3% & SGST 3%).
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