Wrong answer

We have answered as per the latest amendment. Question is old but we have given answer as per amendment. Please note that.

Shiva Teja

Faculty

13-Apr-20 21:26

Sir, but you have told in lectures that if a person wants to opt composition scheme and he is already registered in GST and his aggregate turnover is less than 1.5 crore than he has to apply in the beginning of financial year...Than only he can opt for composition scheme.

Thread Starter

Sunita Gupta

CA Inter

★ 2K+

13-Apr-20 21:54

A person cannot opt for composition scheme in the middle of FY. He must definitely opt before the commencement of FY

Shiva Teja

Faculty

13-Apr-20 21:57

Yes sir And in the question it was asked that " as on 31/10/17 would Sai trading company will be eligible for composition levy"

Thread Starter

Sunita Gupta

CA Inter

★ 2K+

13-Apr-20 22:02

In question they asked whether eligible or not.

Shiva Teja

Faculty

13-Apr-20 22:04

So our answer is he is eligible but cannot concert in middle of the year

Shiva Teja

Faculty

13-Apr-20 22:05

Please check suggested answer if required. Itâ??s the same

Shiva Teja

Faculty

13-Apr-20 22:05

Sir in case of swigggy who is liable to pay GST

Thread Starter

Sunita Gupta

CA Inter

★ 2K+

13-Apr-20 22:07

On commission what Swiggy gets, swiggy is liable

Shiva Teja

Faculty

13-Apr-20 22:07

And on the food, hotel is liable

Shiva Teja

Faculty

13-Apr-20 22:08

Ok sir.. thanks

Thread Starter

Sunita Gupta

CA Inter

★ 2K+

13-Apr-20 22:09

Most welcome

Shiva Teja

Faculty

13-Apr-20 22:10

Shiva Teja a Chattered Accountant has an aggregate turnover of Rs. 70 Lakh which includes 50 Lakh of supply of service and 20 lakh of trading activity. So, can he opt for the composition scheme by Notification No 2 of 2019?

Udaya Kumar

CMA Inter

★ 920

11-Nov-22 21:25

No he cannot.

Shiva Teja

Faculty

12-Nov-22 11:37