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Question ID : 40790

Composition Dealer -Limit for Goods and limit for services

Presently A Taxpayer Is Registered Is Under Regular Scheme . He Is Selling Goods As Well As Providing Services. He Wants To Go For Composition Scheme . My Understanding Is That For The Goods , Maximum Turnover Limit Is Rs 1.5 Crores And Pay GST @1% . For Services Maximum Limit Is Rs 50 Laths And Pay Tax @6% . So In Total Rs 2 Crores He Will Get His Limit ( For Goods Rs 1.5 Cr And For Services Rs 50 Lakhs) Kindly Confirm The Above Understanding .

Posted by samirkumar gokulbhai kasvala on Aug 18, 2020

Filed Under GST

Answer ID : 85413

The understanding is incorrect. The businessmen who is doing supply of both goods and services would be eligible for Composition scheme based on the following turnover criteria. Special category states except Jammu and Kashmir, Himachal pradesh, Assam - 75 lakhs Other states -150 lakhs The business man whose turnover is within aforesaid limits and is supplying both goods and services (except Restaurant Services), Can opt for composition scheme and is permitted to supply Services only to the extent of higher of the following amounts RS. 5 lakhs or, 10% of the turnover.

Posted by SREENIVASULU THULASIRAM on May 13, 2024