Tax with Ria
KF Expert
Part 2- Who cannot opt for composition scheme ?
- A person making inter-state supplies
- A casual taxable person-“Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business.
- A non-resident taxable person
- A person engaged in the supply of non-taxable goods under the GST law (Non- taxable goods under GST are supplying Alcohol for human consumption only, Petroleum, Aviation Turbine fuel, Motor spirit, natural gas, high speed diesel, real estate sector)
- A supplier who has exceeded the turnover threshold limit (i.e exceeded 75 laks/1.5cr /50 lakhs) specified for opting into the composition scheme, and
- Businesses which supply goods through an e-commerce operator . Eg. Supplying goods through Amazon, Myntra, meesho etc.
- Manufacturers of ice cream, pan masala, or tobacco (Not Traders
) - Manufacturers of bricks, including building bricks, bricks of fossil meals or similar siliceous earths, earthen or roofing tiles, and fly ash bricks and blocks.(Not Traders)
Part 1 - Thread '
Small GST taxpayers covered under Composition levy
' https://bekifaayati.co/threads/small-gst-taxpayers-covered-under-composition-levy.1590/
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