Is composite GST scheme applicable for coaching classes if my turnover is less than 1.5 crores ?
1 Replies
VANAJA RANI
(TAX CONSULTANT AUDIT ASSISTANT)
(92 Points)
Replied 26 August 2021
Catching classes will fall under the Supply of services .
The composition scheme for service providers gives an option to taxpayers rendering services having aggregate annual turnover up to Rs. 50 lakh to pay tax at a nominal rate, subject to conditions. The following persons can opt into this scheme:
- Supplier of services only (i.e., service providers)
- Suppliers of goods and services (i.e., those suppliers who were not eligible for composition scheme earlier)
Hence u can opt for composition scheme if u r services are below the 50lacs.
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