COMPOSITION

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..... COMPOSITION
Query (Issue) Started By: - CA. ANCHAL RASTOGI Dated:- 2-7-2017 Last Reply Date:- 16-7-2017 Goods and Services Tax - GST
Got 6 Replies
GST
A Individual having rental from commercial property of ₹ 11 Lacs and turnover from a B to C trading business of ₹ 40 Lacs. May he opt composition for only trading business ? all other condition necessary for composition are .....

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..... OK. Reply By KASTURI SETHI: The Reply: Cannot opt for composition scheme. You will have to conform to all the parameters laid down under GST Acts. Reply By Preeti Sharma: The Reply: Hello CA. Anchal Rastogi, As per my knowledge, Composition scheme in GST is a PAN based scheme. All taxable persons covered by the same PAN shall be under composition across India. Any intimation of option to ava .....

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..... il composition scheme in respect of any place of business in any State or UT shall be deemed to be an intimation in respect of all other places of business registered on the same PAN. Therefore, assessee cannot opt for composition scheme for only 1 business, he has to opt it for all businesses as he has having the same PAN. Reply By PAWAN KUMAR: The Reply: Since, composition scheme is not appl .....

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..... icable for supplier of service. so as per your query if one business is supplier of service and other is trading, for trading composition scheme cannot be availed because as per the condition all the business verticals in a state should be opted to composition. this is contrary that one is out of composition i.e. supplier of service and other being opted for composition, hence composition scheme w .....

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..... ill not be admissible as per my view. Reply By KASTURI SETHI: The Reply: Renting service is not eligible for composition scheme. Only one service i.e. staurant service is eligible for composition scheme and the bar of inter-state sale also makes the assessee ineligible for composition scheme. Hence no question of whole India. Reply By MARIAPPAN GOVINDARAJAN: The Reply: As per the views of expe .....

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..... rts you cannot opt for composition scheme. Reply By Ramesh Kothari: The Reply: Only trading activity allow in composition scheme Tresh told limit 75 LAKH
Discussion Forum - Knowledge Sharing .....

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