Government Order Excludes Interest-Based Services from Turnover for GST Composition Scheme Eligibility, Easing Small Business Challenges.

The Central Goods and Services Tax (Removal of Difficulties) Order, 2019, issued by the Government of India, addresses challenges faced by small businesses under the Central Goods and Services Tax Act, 2017. It clarifies that the value of exempt services, such as deposits, loans, or advances where consideration is in the form of interest or discount, should not be considered when determining eligibility for the composition scheme. This order aims to alleviate difficulties by excluding such exempt services from the aggregate turnover calculation, thus enabling more businesses to qualify for the scheme.

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