Composition scheme
Query (Issue) Started By: – RAI SINGH Dated:- 13-8-2017 Last Reply Date:- 14-8-2017 Goods and Services Tax – GST
Got 5 Replies
GST
A person having shopand selling few products are nontaxable and some taxable. whether he can opt composition scheme.previous financial year Turnover is ₹ 35 Lakhs.
\nReply By RAMESH PRAJAPATI:
\nThe Reply:
\nThe registered person shall be eligible to opt to pay tax under composition scheme [under 10(1) of the CGST Act], if:-
\n(a) he is not engaged in the supply of services other than supplies referred to in clause (b) of paragraph 6 of Schedule II [Para 6. (b) supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article <\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ncome-tax Act, 1961), the registered person shall not be eligible to opt for the scheme under sub-section (1) unless all such registered persons opt to pay tax under that sub-section. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ervices on reverse charge basis; = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Composition scheme Query (Issue) Started By: – RAI SINGH Dated:- 13-8-2017 Last Reply Date:- 14-8-2017 Goods and Services Tax – GSTGot 5 RepliesGSTA person having shopand selling few products are nontaxable and some taxable. whether he can opt composition scheme.previous financial year Turnover is ₹ 35 Lakhs. Reply By RAMESH PRAJAPATI: The Reply: The registered … Continue reading “Composition scheme”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7135","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7135"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7135\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n(3) The option availed of by a registered person under sub-section (1) shall lapse with effect from the day on which his aggregate turnover during a financial year exceeds the limit specified under sub-section (1).
\n(4) A taxable person to whom the provisions of sub-section (1) apply shall not collect any tax from the recipient on supplies made by him nor shall he be entitled to any credit of input tax.
\n(5) If the proper officer has reasons to believe that a taxable person has paid tax under sub-section (1) despite not being eligible, such person shall, in a<\/p>\n
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\n(d) supplier of services, other than restaurant service;
\n(e) persons supplying goods which are not taxable under GST law;
\n(f) persons making any inter-State outward supplies of goods;
\n(g) suppliers making any supply of goods through an electronic commerce operator who is required to collect tax at source under Section 52; and
\nReply By HimansuSekhar Sha:
\nThe Reply:
\nYes he can opt for the composition scheme. The total turnover will include both taxable and non taxable. A condition he may remember is that he should not have any stock purchased from interstate while opting for composition scheme.
\nReply By RAI SINGH:
\nThe Reply:
\nThanks Sir.
\nReply By HimansuSekhar Sha:
\nThe Reply:
\nOK sir
Discussion For<\/p>\n
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