For composition Taxpayer service providing upto 5 lakh is exempt any notification
Menu
Composition tax payer service exempt upto 5 lakh
Replies (10)
Its 50lacs.
Under Which notification
Recently announced on 31.12.2018
ok but in 23rd meeting also emempted upto 5 lakh for opting composition scheme
i required notification if any
Till date there is no Notification in this regard.
no notification
Yes... Till now no notifications issued.
OK then we assumed not allowed and as per new Provision then allowed mixed supply upto 50 composition scheme @ 6%on service
Major decisions taken by the GST council in its 32nd meeting, find below details referring to your query.
3. Composition Scheme for Services: A Composition Scheme shall be made available for Suppliers of
Services (or Mixed Suppliers) with a Tax Rate of 6% (3% CGST +3% SGST) having an Annual Turnover in
the preceding Financial Year up to Rs 50 lakhs.
3.1 The said Scheme Shall be applicable to both Service Providers as well as Suppliers of Goods and
Services, who are not eligible for the presently available Composition Scheme for Goods.
3.2 They would be liable to file one Annual Return with Quarterly Payment of Taxes (along with a Simple
Declaration).
Recent Threads
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
Related Threads
CAclubindia
