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composition

01 July 2017

I have a restaurant and a bar in the same building. but both are different entities ie partnership firm. can I opt for composition on restaurant bill as my turnover does not exceed 75lakhs

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2 Replies

Sameer Sawant (32 Points)
Replied 01 July 2017

if your registration of bar and restaurant has different pan then it will be considered as separate entities. hence you can opt for composition scheme for restaurant business provided you comply with all other conditions.

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Bharat bhushan (Chartered Accountant) (143 Points)
Replied 01 July 2017

That depends on your ways of registration, if you have both entities registered in a single partnership firm, then if turnover of both businesses is less than Rs.75 lk, then only you can opt composition scheme but if you both businesses in different partnerships then for composition scheme turnover of individual business will be taken if less then Rs 75 lk then only can opt.