saurabh sawlani (2158 Points)
08 January 2024
Sharath chandra
(Accountant)
(1222 Points)
Replied 08 January 2024
RAJA P M
("Do the Right Thing...!!!")
(127921 Points)
Replied 08 January 2024
Sharath chandra
(Accountant)
(1222 Points)
Replied 08 January 2024
saurabh sawlani
(2158 Points)
Replied 10 January 2024
RAJA P M
("Do the Right Thing...!!!")
(127921 Points)
Replied 10 January 2024
| Originally posted by : saurabh sawlani | ||
 |
Thanks Sharath & raja sir for your valuable guidance!!!Sir, I have another confusion in this matter, if any composition dealer simultaneously supplies goods and services, So what will be the criteria for supplying services to that dealer(turnover criteria for supplying services)??regards |  |
150 lakhs For goods only...
50 lakhs for Service (goods and Service)
For Your Reference (from TAXES.TRIPURA.GOV.IN) :
9. Can supplier of Services opt for composition levy?
Ans. No, the only exception being supplier of restaurant services.
But supplies of goods or services or both upto an Aggregate Turnover of Rs.50 lakh made on or after the 1st day of April in any financial year, by a registered person may opt for composition scheme. This option come into force on the 1st day of 2019 and rate of tax 3% CGST & 3% SGST.
Sharath chandra
(Accountant)
(1222 Points)
Replied 10 January 2024
RAJA P M
("Do the Right Thing...!!!")
(127921 Points)
Replied 15 January 2024
sabyasachi mukherjee
(27119 Points)
Replied 17 January 2024
RAJA P M
("Do the Right Thing...!!!")
(127921 Points)
Replied 17 January 2024
Snigdha Bhowmick
(NA)
(7 Points)
Replied 17 January 2024
Hello,
As per my understanding following are the provisions for supply of services by person registered under composition scheme.
As per 2nd Proviso to Sec 10(1) of CGST Act, A person registered under composition scheme may supply services, subject to the condition that value of such service is up to 10% of Turnover in State / Union Territory in previous Financial Year, or Rs. 5,00,000, whichever is higher. The limit is to be checked state wise.
So basically, this provision is for such composite suppliers, who supply goods as well as services.
But if the supplier only supplies services, he will have to get registered under Sec 10(2A) of CGST Act. He can avail this section only if his aggregate turnover in the previous financial year does not exceed Rs. 50,00,000.
Hope I am able to clarify your doubt.
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