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Not eligible for composition scheme but eligible for notification no-2/2019 dated 7.3.19

shilpi (student) (780 Points)

18 April 2020

Who are the person not eligible for composition scheme but eligible for notification no 2/2019 dated 7.3.2019?

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Deepak Gupta (CA Student) (15922 Points)
Replied 18 April 2020

Option to pay tax at concessional rate [NN 2/2019, CT(R), 07.03.19]

Eligibility:

aggregate turnover in preceding FY <=50 lakh
(In this threshold, interest income from loan/deposits will not be considered)
not eligible for composition scheme
engaged in supply of service, other than restaurant service

Composition Scheme Check:

For manufacturers (except notified goods), restaurant service and supplier of goods (1.5 Crore)
If providing services, other than restaurant services, then check marginal threshold
If out of above two, then check whether eligible for concessional rate notification

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CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 19 April 2020

basically person who are not eligible for the Composition Scheme u/s 10

then he may opt for the N/N 2 / 2019

Roughly speaking then it is for service providers .

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shilpi (student) (780 Points)
Replied 04 May 2020

Please enlighten me-For example I'm newly registered under composition scheme.The office located is in delhi another office is in Meghalaya. Which will the threshold limit be applicable in this case ? 75 laks or 1.5 crore?