Author: Tabish Ahmad

Topic Name – How to compute ‘aggregate turnover’ to determine eligibility for composition scheme The methodology to compute aggregate turnover is given in Section 2(6). Accordingly, ‘aggregate turnover’ means value of all outward supplies (taxable supplies+exempt supplies+exports + inter-state supplies) of a person having the same PAN and it excludes taxes levied under central tax […]

Topic Name – Can composition tax be collected from customers No, the registered person under composition scheme is not permitted to collect tax. It means that a composition scheme supplier cannot issue a tax invoice                     About Bihar Tax Consultant – Bihar Tax Consultant is among […]

Topic Name – Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit                 […]

Topic Name – Can the registered person under composition scheme claim input tax credit No, registered person under composition scheme is not eligible to claim input tax credit.                         About Bihar Tax Consultant – Bihar Tax Consultant is among the best and experienced tax […]

Topic Name – Who are not eligible to opt for composition scheme Broadly, five categories of registered person are not eligible to opt for the composition scheme. These are: (i) supplier of services other than supplier of restaurant service; (ii) supplier of goods which are not taxable under the CGST Act/SGST Act/UTGST Act. (iii) an […]

Topic Name – Can composition scheme be availed of by a manufacturer and a service supplier A manufacturer can opt for composition scheme generally. However, a manufacturer of goods, which would be notified on the recommendations of the GST Council, cannot opt for this scheme. This scheme is not available for services sector, except restaurants. […]

Topic Name – What are the rates of tax for composition scheme All registered persons having the same Permanent Account Number (PAN) have to opt for composition scheme. If one registered person opts for normal scheme, others become ineligible for composition scheme.                         About […]

Topic Name – What will be the implications in case of receipt of supply from unregistered persons Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of complex GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer […]