Composition scheme eligibility clarified: exempt services, including interest or discount on loans, do not disqualify suppliers. Suppliers who provide services that include exempt supplies, including interest or discount income from deposits, loans or advances, are not ineligible for the composition scheme on that ground alone, and the value of such exempt supplies must be excluded when computing aggregate turnover for composition scheme eligibility.
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Composition scheme eligibility clarified: exempt services, including interest or discount on loans, do not disqualify suppliers.
Suppliers who provide services that include exempt supplies, including interest or discount income from deposits, loans or advances, are not ineligible for the composition scheme on that ground alone, and the value of such exempt supplies must be excluded when computing aggregate turnover for composition scheme eligibility.
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