Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 13 July 2021
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 14 July 2021
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 15 July 2021
Neha Pal
(6 Points)
Replied 15 July 2021
Pankaj, can u tell me what I should opt or which one I will get in this case regular or composition
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 16 July 2021
Neha Pal
it depend upon the profitability of business .If you have handsome profit margin then go for composition scheme.
moreover the business you dealing in of restaurant, cannot claim ITC , & reqular scheme the accounting compliances will increase.
(Note : you cannot opt composition if supply through E-commerce who is deducting TCS)
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13606 Points)
Replied 16 July 2021
Yes in veiw of specific provisions you are not eligible for composition scheme if your e commerce operator is liable to deduct TCS.
Whether regular or composition (if eligible) tax rate is 5% in both cases without ITC.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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