Availability of Composition Scheme to Works Contractors Simply put, a works contract is essentially a contract of service which may also involve supply of goods in the execution of the contract. It is basically a composite supply of both services and goods, with the service element being dominant in the contract between parties. In a […]
The Turnover Limit for the Composition Levy The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rupees 1 crore but after 7th March, 2019 the limit has increased the threshold limit of aggregate turnover for availing Composition Scheme under Section 10 of the Central Goods […]
Composition Scheme Under GST Composition Scheme Under GST The Indian Govt. wants to roll out The Historic Goods and Service Tax regime of business compliance in India- From- July 1, 2017, Large Organizations have the requisite resources and expertise to address these requirements. On the other side, many startups and Small Enterprises may struggle to […]
