dear sir
person want to do trading activities and services activities can he apply for composition registration
is there any notification for that pls advise
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Registration under composition
Replies (3)
Quick Summary
Composition Scheme is a single and easy scheme under GST for small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.The scheme can be opted by any Taxpayer whose turnover less than ₹ 1.50 Crore.
Yes but make sure that revenue from service activities shouldn't exceed 10% of turnover or 5 lakh whichever is higher
Taxpayers or people whose annual turnover up to INR 1.5 crore in a financial year can opt for composition scheme.
If person providing services along with service than income from service activities shouldn't exceed 10% of total turnover or 5 lakh whichever is higher.
Rate of GST is 1% on outward supply.
Composition Taxpayer can not charge GST in bill from customer and also not eligible to take Input tax credit on purchases.
If person providing services along with service than income from service activities shouldn't exceed 10% of total turnover or 5 lakh whichever is higher.
Rate of GST is 1% on outward supply.
Composition Taxpayer can not charge GST in bill from customer and also not eligible to take Input tax credit on purchases.
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