Topic Name – What are the penal consequences if a person opts for the composition scheme in violation of the conditions If a taxable person has paid tax under the composition scheme though he was not eligible for the scheme then the person would be liable to penalty and the provisions of section 73 or […]
Read MoreBihar Tax Consultant in Motihari We are present in every corner of Bihar, to provide quality services so that you will get best services in field of Tax Consultancy as well as Legal Services. Motihariis one major business town. It also serves as a financial and economical center of this region . In Motihari, Bihar […]
Read MoreBihar Tax Consultant in Chakia We are present in every corner of Bihar, to provide quality services so that you will get best services in field of Tax Consultancy as well as Legal Services. Chakiais one major business town. It also serves as a financial and economical center of this region . In Chakia, Bihar […]
Read MoreBihar Tax Consultant in Kesaria We are present in every corner of Bihar, to provide quality services so that you will get best services in field of Tax Consultancy as well as Legal Services. Kesariais one major business town. It also serves as a financial and economical center of this region . In Kesaria, Bihar […]
Read MoreTopic 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 […]
Read MoreTopic 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 […]
Read MoreTopic 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 […]
Read MoreTopic 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 […]
Read MoreTopic 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 […]
Read MoreTopic 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. […]
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