if business turnover from pharmacy business is 32 lakhs and the person is having income from rental property used for commercial purpose 5 lacs.
what is registration limit under gst. is it possible to go for composition scheme.
and also wanted to know the tax rates.
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regarding registration and composition scheme
Replies (2)
The agreegate turnover is 37 (32+5)
Yes can opt for New Scheme same as composition scheme .
As per Notification 2/2019 CT (r) :
supply of Goods , services or both whose turnover is upto 50lac can opt this scheme.
Rate of Tax is 6% on turnover (without ITC).
Note : Composit dealer can opt for this scheme.
Yes can opt for New Scheme same as composition scheme .
As per Notification 2/2019 CT (r) :
supply of Goods , services or both whose turnover is upto 50lac can opt this scheme.
Rate of Tax is 6% on turnover (without ITC).
Note : Composit dealer can opt for this scheme.
in that mixed supplies..what I interpreted is one single supply involving goods and service..
they specifically say service and mixed services.
interpreting it as good and services with different nature is giving me different opinion that your explainatiom
they specifically say service and mixed services.
interpreting it as good and services with different nature is giving me different opinion that your explainatiom
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