which category of suppliers can adopt composition alternative ?
Composition alternative is beneficial for which suppliers
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2
Answer:
Supplier engaged in supply of exempt supplies. Supplier engaged in supply of services (other than restaurant related services) Producer of ice cream, pan masala, or tobacco.
Explanation:
As per 32nd GST Council Meeting held on 10th Jan 2019, Service Providers can opt into the Composition Tax Scheme, and the Government has set the threshold turnover for service providers at Rs. 50 lakhs to be eligible for this scheme
Answered by
1
Answer:
Conditions to be fulfilled to be eligible under the scheme:
The supplier of service must have a turnover of less than Rs. 50 lakh in the previous financial year. The supplier should not be supplying non-taxable goods. The supplier should not be engaged in making inter-state supplies.
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