Composite scheme, Goods and Services Tax - GST

[Anujit Bhowmik]

Is there a composite scheme for service sector, we are into ship repairs and compete with ship repairers from Singapore, due to high 18% tax we fail to get repair jobs to INDIA from the South East.

Posts / Replies

[KASTURI SETHI]

Only restaurant service is under composition scheme. However, Govt. is planning to bring more services under Composition Scheme.Notification can be issued at any time as it was decided by the GST Council in the last meeting.

[MARIAPPAN GOVINDARAJAN]

I endorse the views of Shri Sethi.

[Anujit Bhowmik]

Thank you for the details, I think the composite scheme allows service providers within the bracket of 20 lakhs for NIL tax, however looking at the rapid devaluation of rupee, the government should encourage service sectors also and not only traders into doing more business, The bar may be raised to atleast 50 Lakhs with some 2% payable on turnover.Just like for traders.

[MARIAPPAN GOVINDARAJAN]

Your views are correct. You may represent to the GST Council through its mail id.

[Ganeshan Kalyani]

The government is simplifying the law. We will have to wait for the Notification.

[subramanian vijayakumar]

No composition scheme is not eligible for service sector