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TMI BlogCOMPOSITION SCHEME FOR MEDICAL STORE AND LODGING AND BOARDINGX X X X Extracts X X X X X X X X Extracts X X X X ..... COMPOSITION SCHEME FOR MEDICAL STORE AND LODGING AND BOARDING X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear querist Your query relates to combined business of three different categories, namely, trading in medicines, supply of food articles and also supply of accommodation facilities together.In my understanding, the taxpayer supplying lodging[accommodation]services is not entitled for Composition Scheme. Reply By PAWAN KUMAR: The Reply: Composition scheme allow for supply of service - 10% of y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our annual turnover or 5 lakh whichever is higher. if main business is of supply of service then annual turnover limit is 50 Lakh. Reply By Sadanand Bulbule: The Reply: Dear querist You need to be specific as regards to the category of supply of goods and/or services separately to opt for composite tax. However in the case of supply of accommodation services [lodging], the tariff rate for per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... room per day is the determinant factor. Section 10 provides general conditions which have to be read with related notifications. Reply By Shilpi Jain: The Reply: If revenue from your boarding and lodging is less than 10% of your total revenue - you could be eligible for composition. Further details regarding your total revenue, the proportion of goods and service revenue, etc. would be require ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to assess whether composition is eligible. Reply By KASTURI SETHI: The Reply: Sh.Sadanand Bulbule Ji, Sir, Please refer to your views expressed at serial no. 3 above. Despite my all-out efforts, I could not trace out the hurdle in this scenario. Will you please throw more light on the issue regarding ineligibility for registration under composition scheme ? Is composite supply is the hurdle i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n this scenario ? Pl. advise for enrichment of my knowledge. Thanks & regards. Reply By Sadanand Bulbule: The Reply: Dear Sir Your observation is right. There are no hurdles in the scheme projected under Section 10 of the Act. Although it looks magnetic segment, it follows with many restrictions as well. So one need to be more careful to reap the advantage of the subject scheme. That's a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll.
Reply By KASTURI SETHI:
The Reply:
Sh.Sadanand Bulbule Ji,
Sir, I am highly thankful to you for your response. X X X X Extracts X X X X X X X X Extracts X X X X
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