Question ID :
31628
COMPOSITION SCHEME
A person supplies goods and exempt sevice like renting of residential property. can he opt composition scheme ?
Posted by
CA. RACHIT JAIN
on
May 12, 2018
Filed Under
GST
yes
Posted by
CA. SATISH CHAND GARG on
May 12, 2018
Answer ID :
68631
Sir please mention notification no. in this regard
Posted by
CA. RACHIT JAIN on
May 14, 2018
Answer ID :
68632
He cant opt for composition as per Sec. 10(2)(a) 10(2)(b)
Regards,
CA. SACHIN JAIN
8989-90-4652.
Posted by
CA Sachin j VAtsal on
May 14, 2018
Answer ID :
68633
In 23rd Council meeting they allow composition dealer to supply of exempt services up to 5 lacs.
Posted by
CA. RACHIT JAIN on
May 14, 2018
Answer ID :
68635
Kindly Provide Relevant Notification issued in this regard ???
Posted by
CA Sachin j VAtsal on
May 15, 2018
Answer ID :
68637
I also want to know notification no. press release no.116 dated 10-11-2017
press release link www.cbec.gov.inresourceshtdocs-cbecpress-releaseChanges-recommended-Composition-Scheme.pdf
Posted by
CA. RACHIT JAIN on
May 15, 2018
Answer ID :
68682
Renting of any immovable property is deemed supply of services as per Entry No. 5(a) of Schedule II of the CGST Act. As per Sec. 10(2) of the Act, a person providing services (except food or other article for human consumption) are not eligible for opting composition scheme u-s 10.
Accordingly if a person is having renting receipts, he will not be able to opt for composition scheme.
It is true that GST Council has decided to allow taxpayers to remain in composition scheme even if they are providing services of maximum value of INR 5.00 lacs per annum, but for the same the act has to be amended, and till date the Act has not been amended.
Posted by
Jatin Harjai on
May 25, 2018