Composition Levy of Goods Quiz

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

Consulting services only

Any service with a specified value not exceeding 10% of turnover (correct)

Manufacturing services only

Restaurant services only

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

<p>10% of their turnover in the preceding year</p> Signup and view all the answers

<p>To allow a wider range of businesses to benefit from the scheme</p> Signup and view all the answers

<p>(10% of Turnover in State/UT in Preceding FY) OR 5 lacs, whichever is higher</p> Signup and view all the answers