Composition scheme

505 views 13 replies

Sarika Kothari

144 Points Joined May 2017

whether services whose turn over upto 5lacs are allowed for composition scheme.whether Notification has been published for this?

Replies (13)

Ruchira

Article

208 Points Joined March 2018

Business with annual turnover upto Rs. 1 crore can opt for composition scheme. Only in north eastern states and himachal pradesh its Rs.75 lacs

As your turnover is upto Rs. 5 lacs you are not eligible for composition scheme.

Sarika Kothari

144 Points Joined May 2017

mam its 5 lac not 5 crore. and mam wahat about service provider can they avail composition scheme

sushit shishul

338 Points Joined June 2017

supplier of services not under composition scheme except for restaurant services

Ruchira

Article

208 Points Joined March 2018

For service providers except resturants no one else can get into composition scheme.

Since you are not into resturant business you can not opt for composition scheme even if your turnover is less than Rs. 1 crore.

Sarika Kothari

144 Points Joined May 2017

thank you mam for your guide

Ruchira

Article

208 Points Joined March 2018

Only manufacturer of Goods, Dealers and Restaurants( not serving alcohol) can opt for composition scheme.

pritesh

CA Final student

7106 Points Joined April 2018

Taxpayers registered under the GST Composition Scheme can now supply services with a taxable value of upto Rs.5 lakhs per annum. This provision will immensely help small computer shop operators and dealers involved in providing services along with sales of product.

Sarika Kothari

144 Points Joined May 2017

yes pritesh but any notification yet issued or not

RAJA P M

"Do the Right Thing...!!!"

128147 Points Joined January 2015

No...

The said Provisions / Decision not in force.
So, No way for avail such exemption by Composition Dealer...

Note (just for information) :
The said decision not applicable to all the services. It's only applicable related service activities based on the "Manufacturing and/or Trading" to the Composition Dealer...

Pankaj Rawat

GST Practitioner

55067 Points Joined June 2017

Yes Agree with Raja ji

As per new amendment Act (No 31 of 2018) Dtd .29/08/2018 : The composit dealer shall supply services upto value not exceeding 10%of turnover in preceding fy or 5lac whichever is Higher.

as in the act its cleanly define that the provision of act will get effective from date notify by the council by issuing notification & Since as of today there is notification in this regard