I am into agreement with one Construction company( Works Contract) to let my lorries on hire to them. They said that they will pay Rs:160,000/- Per vehicle. But now they are saying that we will come under Composition scheme. So we need not to pay GST to you.
In this scenario what shoould i do?? In the second instance; if they are willing to pay GST. Then at the time of filing 3B under which head should i file this return , Please state what sort of actions should i take.
16 February 2018
In case of composition scheme, there are many restrictions in taking the input tax credit. Composition scheme can be obtained if your turnover is less than INR 1 crore.
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