I am a small contractor.
my services are limited to 50lakhs.
I am choosing for service composition scheme.
I want to the category of person to select.
a. suppliers making supplies referred to in schedule II para 6 clause b or
b. any other supplier
As per Notification 2/2019 CT (r)
Yes you can opt for scheme whose turnover is below 50lac , but there are few restrictions :
1. (i) whose aggregate turnover in the preceding
financial year was fifty lakh rupees or below;
(ii) who is not eligible to pay tax under sub-section
(1) of section 10 of the said Act;
(iii) who is not engaged in making any supply
which is not leviable to tax under the said Act;
(iv) who is not engaged in making any inter-State
outward supply;
(v) who is neither a casual taxable person nor a
non-resident taxable person;
(vi) who is not engaged in making any supply
through an electronic commerce operator who is
required to collect tax at source under section 52
(viii) cannot collect tax from customer & not liable take ITC
ix) liable pay 6% GST on turnover
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