| TMI Short Notes | ||||
Can an Importer of goods or services opt to pay tax under composition scheme under GST? |
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Section 10 - Composition levy. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 Yes, there is no restriction of person availing the Composition scheme to import the goods or services. Obviously, at the time of Import, he has to pay IGST for which may not be eligible for input tax credit, but he can still avail the benefit of composition scheme.
Dated: 23-7-2017
Suggestions / Comments
Dear sir, As per my understanding the service provider is not eligible under composition scheme.
You are very much correct. A service provider is not eligible for composition scheme. But merely because of import of services he will not become a service provider. Import of services may be required for various business purposes and for captive (in house) consumption.
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