Composition Scheme
This query is : Resolved
19 August 2017
one person doing manufacturing activity and also give service like jobwork can he take registration under Composition under GST ???
19 August 2017
No. He can't opt to composition scheme. Bcoz, service oriented person can't opt to composition scheme.....
So, He can register only in regular scheme....
15 October 2021
The registered taxpayers rendering services or supplying goods and services both can opt for composition scheme under GST from 1st April 2019 having an aggregate turnover up to Rs. 50 Lakhs in the preceding year.
Example: If a taxpayer has Rs. 25 Lakhs of supply of services and Rs. 15 lakhs supply of goods in FY 2018-19, he can opt for composition scheme from 1.4.2019.
If a person’s turnover exceeds Rs. 50 lakhs during a year, he has to shift to the normal scheme and pay tax at regular rates.
Example: If a taxpayer has Rs. 25 Lakhs of supply of services and Rs. 15 lakhs supply of goods in FY 2018-19, he can opt for composition scheme from 1.4.2019.
If a person’s turnover exceeds Rs. 50 lakhs during a year, he has to shift to the normal scheme and pay tax at regular rates.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
