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Expert Advice Needed - GST Composition Scheme

Romil Davda (Article) (111 Points)

07 February 2018

i have business having turnover of 45 lacs and rent income of about. 1.5 L .
Can i opt for composition scheme ?

read sec 10(2)

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9 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 February 2018

No....
You can't opt composition scheme...

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CA. Ramiz M. Rather (Partner at AHM & CO Chartered Accountants) (106 Points)
Replied 07 February 2018

No
In case of supply of service composition scheme is available to Restaurant service only. In your case one of your business vertical is ineligible for composition scheme, so all of your business verticals become automatically ineligible.

Romil Davda (Article) (111 Points)
Replied 07 February 2018

okay thanks both...can you further tell me any tax planning on how i can solve this if i want to continue with composition?

CA. Ramiz M. Rather (Partner at AHM & CO Chartered Accountants) (106 Points)
Replied 07 February 2018

I just want to know have u let out your property for commercial purposes or residential purposes. If for residential purposes then it is non-GST supply. Then u can continue with composition scheme.

Romil Davda (Article) (111 Points)
Replied 07 February 2018

yeah its commercial...i forgot to tell that...so its taxable..

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 February 2018

Yes... It's taxable..
No way for opt to composition scheme. You ll be adjust your ITC to Rent income. Otherwise have any liabilities then pay...

CA. Ramiz M. Rather (Partner at AHM & CO Chartered Accountants) (106 Points)
Replied 07 February 2018

See incase u have different registrations for different business verticals. Still u can't opt for composition scheme untill and unless ur all registrations are on single pan.