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Interior designer

ganesh (proprietor) (45 Points)

05 June 2020

The interior designer professional had received a fee of Rs. 24,00,000 / - in the last financial year and has paid regular GST on it @ 18%. (f.y. 2019-20)
Is it possible to go for composition scheme for the current financial year 2020-21?
& he service provide in only maharashtra.

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4 Replies

KRISSHNAN KP (4215 Points)
Replied 05 June 2020

Possible to file options under section 10 of the GST Act

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Shivam RC (Student) (23683 Points)
Replied 05 June 2020

Yes you can opt for COMPOSITION SCHEME under Section 10 of the CGST Act 2017 for this Financial Year i.e. 2020-21.

As per Notification No. 2/2019 - Central Tax ( Rate ), dated 07th March 2019, Service Providers having Aggregate Turnover upto Rs. 50 lakhs in the preceding financial year can opt for a Special Composition Scheme and pay GST @ 6% [ CGST @ 3% + SGST @ 3% ] w.e.f. 01/04/2019.

Since your Aggregate Turnover is within the turnover threshold limit ( Rs. 24 lakhs ), you can opt for Composition Scheme for this year.

Note that the last date to opt for Composition Scheme for the FY 2020-21 i.e. to file FORM GST CMP-02 has been extended to 30.06.2020 ( 30th June 2020 ) vide Notification No. 30/2020 - Central Tax, dated 03.04.2020.

Regards,
Shivam RC.

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