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Indirect Taxation
What is difference between Composition Scheme u/s10(1) and 10(2A) can u please elaborate because I read Twice and Thrice but I didn't understand
Answers (1)
Sec 10(1) - Manufacturers (incl. providing services up to 10% of Turnover in the preceding FY or Rs. 5 Lakh, whichever is higher) @ 1% - Restaurant/Caterers* @ 5% - Traders (incl. providing services up to 10% of Turnover in the preceding FY or Rs. 5 Lakh, whichever is higher) @ 1% Sec 10(2A) - Other Service providers [other than restaurant/ caterers or traders/ manufacturers under Sec 10(1)] @ 6%
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