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Questions and Answers
In the context of the text, who is eligible for the composition levy of goods?
In the context of the text, who is eligible for the composition levy of goods?
- A trader with no involvement in service provision
- A person engaged in marginal supply of services other than restaurant service (correct)
- Only a manufacturer
- Anyone engaged in supplying goods
What type of supply other than restaurant services can a registered person engaged in the composition scheme provide, as per the text?
What type of supply other than restaurant services can a registered person engaged in the composition scheme provide, as per the text?
- Consulting services only
- Any service with a specified value not exceeding 10% of turnover (correct)
- Manufacturing services only
- Restaurant services only
What is the purpose of the second proviso to section 10(1) mentioned in the text?
What is the purpose of the second proviso to section 10(1) mentioned in the text?
- To restrict manufacturers from opting for the composition scheme
- To allow small-scale service providers to benefit from the composition scheme for goods (correct)
- To exclude service providers from the composition scheme
- To promote restaurant services over other services
What determines the maximum value of services (other than restaurant services) a person under the composition scheme can provide in a year?
What determines the maximum value of services (other than restaurant services) a person under the composition scheme can provide in a year?
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Why is there a provision for marginal supply of services for those under the composition scheme?
Why is there a provision for marginal supply of services for those under the composition scheme?
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Based on the text, what determines whether a person can supply services other than restaurant services under the composition scheme?
Based on the text, what determines whether a person can supply services other than restaurant services under the composition scheme?
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