6 Questions
In the context of the text, who is eligible for the composition levy of goods?
A person engaged in marginal supply of services other than restaurant service
What type of supply other than restaurant services can a registered person engaged in the composition scheme provide, as per the text?
Any service with a specified value not exceeding 10% of turnover
What is the purpose of the second proviso to section 10(1) mentioned in the text?
To allow small-scale service providers to benefit from the composition scheme for goods
What determines the maximum value of services (other than restaurant services) a person under the composition scheme can provide in a year?
10% of their turnover in the preceding year
Why is there a provision for marginal supply of services for those under the composition scheme?
To allow a wider range of businesses to benefit from the scheme
Based on the text, what determines whether a person can supply services other than restaurant services under the composition scheme?
(10% of Turnover in State/UT in Preceding FY) OR 5 lacs, whichever is higher
Test your knowledge on the composition scheme for goods and services, including cases where a person engaged in marginal supply of services other than restaurant service is eligible for composition levy. Explore the intricacies of Section 10(1) and 10(2)(a) of the tax provisions.
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