08 August 2019
dear sir, What does Supply of services upto Rs 5 lakh allowed under Composition Scheme? APART from approving various legislative changes the GST Council at its 25th meeting has also approved the proposal to allow supply of services upto Rs 5 lakh per annum to the composition dealers. In other words, while computing the turnover of a Composition Dealer, even if one may be providing certain services along with the supply of goods, such supply of services upto Rs 5 lakh is to be treated as exempted. So according to above press release :- Composition Dealer can provide service upto Rs. 5,00,000 But what is meant by treated as exempt ? And what type of certain services are ? Please explain if anybody knows.
08 August 2019
prior to this amendment , the manufacturers or traders supplying services along with goods were not eligible for opting composition scheme .
Exemption in this clause is that a manufacture or trader opting composition is exempted (from restriction of ineligibility) if his supply of services is Rs 5 Lakh or 10 % of turnover whichever is higher ).
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