TMI BlogGST COMPOMSITION SCHEMEX X X X Extracts X X X X X X X X Extracts X X X X ..... DEAR SIR PLEASE GIVE ME DETAILS FOR - IF A DEALER ENGAGED BUSINESS IN LOCAL STATE ONLY BY MFG 50% AND SERVICES 50% , BOTH OF HIS TURNOVER BELOW 75 LACKS WHETHER HE IS ELIGIBLE FOR OPTION ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TO COMPOSITION TAX SCHEME UNDER GST. T M ARJ CHENNAI - Reply By KASTURI SETHI - The Reply = Only one servic i.e. restaurant service is eligible for composition scheme. There is no such like 50 : 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 provision in GST. - Reply By Gorantla Bhaskar Rao - The Reply = Dear querist Small tax payers with an aggregate turnover in a preceding financial year upto ₹ 75 lakhs shall be eligible for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... composition levy. Under the scheme, a tax payer shall pay as a percentage of his turnover without the benefit of Input tax credit. A tax payer opting for composition levy shall not collect any tax f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom his customers. As rightly explained by Shri Sethi sir, in case of services, only restaurants can opt for composition scheme. - GST COMPOMSITION SCHEME - Query Started By: - TM ARJUN Dated:- 25- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6-2017 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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